The Company completed a payment to the arm's length vendor of
Financing
The Company also announces it has closed the first tranche of a non-brokered private placement by issuing 3,580,557 units (each a 'Unit') at
In connection with the Offering, the Company paid finder's fees of
The Company intends to use the net proceeds from the Offering for general working capital purposes and for the acquisition of the Assets.
All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring
About
Contact:
Tel: (604) 343-4743
Email: info@wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute 'forward-looking information', including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words 'may', 'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the anticipated completion of the acquisition and the proposed timing thereof, the anticipated benefits of the acquisition, the potential for gas production and production from additional zones on the Assets, and potential additional acquisition opportunities in the area of the Assets and the proposed use of the proceeds of the Offering. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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