Wedgemount Resources Corp. announced a non-brokered private placement of units on March 28, 2023. Each unit entitled the holder to receive one common share in the capital of the company and one transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at CAD 0.30 until March 24, 2025, subject to an accelerated expiry provision, whereby in the event the closing price of the company’s common shares on the Canadian Securities Exchange exceeds CAD 0.60 for a period of 20 consecutive trading days, at the company’s election, the period within which the warrants are exercisable, will be reduced and the holders of the warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the company provides notice, any outstanding warrants not exercised during the 30 day period will expiry. All securities issued under the transaction, including securities issuable on exercise thereof, are subject to a hold period expiring July 25, 2023, in accordance with the rules and policies of the Canadian Securities Exchange and applicable Canadian securities laws.

On the same date, the company issued 3,580,557 units at a price of CAD 0.17 per unit for gross proceeds of CAD 608,695 in its first tranche closing. The company paid finder’s fees of CAD 24,903, equal to 7% of the total proceeds raised by eligible finders and issued 146,487 finder warrants, equal to 7% of the number of units sold by eligible finders. The finder warrants are exercisable at CAD 0.30 until March 24, 2025, subject to the Accelerated Expiry Provision.