Wedgemount Resources Corp. announced a non-brokered private placement of up to 2,500,000 units at CAD 0.20 per unit for gross proceeds of up to CAD 500,000 on December 19, 2022. Each unit will entitle the holder to receive one common share and one transferable common share purchase warrant.

Each warrant entitles the holder to acquire one common share at CAD 0.30 per common share for a period of twenty four months from the date of issuance, subject to an accelerated expiry provision, whereby in the event the closing price of the companyÆs common shares on the Canadian Securities Exchange exceeds CAD 0.60 for a period of 20 consecutive trading days, at the companyÆs election, the 24 month 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. In connection with the offering, the company may pay finderÆs fees to qualified non-related parties, in accordance with the policies of the exchange, being 7% cash commission on total proceeds raised by the finder and 7% in warrants on total units sold by the finder. 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.