Wedgemount Announces Modification of Warrant Term and Grant of Options

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Vancouver, British Columbia–(Newsfile Corp. – November 14, 2022) – Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) (“Corner mount“or the”Company“), announces that it has filed an application with the Canadian Securities Exchange (the “Swap“), to extend the term of 1,383,748 common stock warrants (the “Mandates“) which were issued pursuant to the Company’s private placement of units completed on July 9, 2021, which was scheduled to expire on January 9, 2023. The warrants have exercise prices of $0.70 and 0. $85 per common share and there are 1,236,480 and 147,268 issued and outstanding, respectively Wedgemount insiders hold 3.97% of the warrants The Company has extended the term of the warrants from 18 months to 30 months in accordance with Exchange policies, resulting in a new expiration date of January 9, 2024.

The Company also announces that it has approved the grant of incentive stock options (each, a “Option“) to acquire up to 375,000 ordinary shares in the capital of the Company (each a “Ordinary share“). Options are exercisable for a term of five years expiring November 14, 2027 at a price of $0.23 per option. Options are subject to vesting provisions, with 1/4 vesting 3 months from from the date of grant and 1/ All common shares issued upon exercise of options will be subject to a four-month hold period expiring on March 15, 2023, unless the Canadian Securities Exchange decides to do so. give up.

About Wedgemount Resources Corp.

Wedgemount Resources is a junior natural resource company focused on maximizing shareholder value through the acquisition, discovery and advancement of natural resource projects in North America.

On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.

Mark Vanry, President and CEO

For more information, please contact the Company at:
Phone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com

Notice to readers

This press release may contain statements that constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors or officers regarding the future business activities of the society. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and Similar expressions, to the extent that they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward-looking statements made in this press release include the expected completion of the Acquisition and the proposed timing thereof, the anticipated benefits of the Acquisition, the potential for gas production and production from additional areas on the assets, and possible additional acquisition opportunities in the area of ​​the Assets. Investors are cautioned that these forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the future business activities of the Company may differ materially from those contained in the forward-looking statements due to various factors. , including, but not limited to, the availability of funds, personnel and other resources necessary to conduct exploration or development programs, the successes of the Company’s exploration efforts, the availability of capital and financing and general economic, market or business conditions. There can be no assurance that such information will prove to be accurate and, therefore, readers are urged to rely on their own assessment of such uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144184

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