Wedgemount Resources Corp. announced a non-brokered private placement and it will issue of up to 588,235 units at an issue price of CAD 0.17 per unit for a gross proceeds of CAD 99,999.95 on July 11, 2023. Each unit comprised of 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 0.3 for two years from the date of issuance, 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 0.6 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 expire. The transaction was anticipates closing to occur on or around July 18, 2023. All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.