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Vancouver, BC TheNewswire - April 7, 2026 Wedgemount Resources Corp. (CSE: WDGY) ("Wedgemount" or the "Company"), announces with deep sadness the passing of Mr. Cody I. Campbell, Indpendent Non-Executive Director of the Company, on March 6, 2026.
Cody, aged 43, had been serving as an Independent Director of the Company since its founding in 2020. Mr. Campbell's extensive experience working with junior natural resource companies provided great value and guidance to the entire Wedgemount team.
The Board expresses its sincere condolences to Cody's family and extends its deepest sympathy during this trying time.
Following Mr. Campbell's passing, the Company will initiate the process to identify and appoint a suitable candidate to fill the position.
Closing of Private Placement
The Company also announces it has closed its previously announced $1,250,000, non-brokered, private placement (the "Offering").
Pursuant to the closing, the Company issued 25,000,000 Common Shares (each a "Share") at $0.05 per Share for gross proceeds of $1,250,000 (the "Offering"). In connection with the Offering, the Company paid finder's fees of $16,520.
The Company intends to use the net proceeds from the Offering for marketing, expansion of field operations and general working capital purposes.
Securities issued under the the Offering, are subject to a hold period expiring August 7, 2026, in accordance with the rules and policies of the Canadian Securities Exchange and applicable Canadian securities laws.
Grant of Equity Compensation
The Company further announces that, pursuant to its Equity Compensation Plan (the "Plan"), it has approved the grant of an aggregate of 1,000,000 restricted share units ("RSUs") to certain executive officers of the Company (the "Equity Grant").
Each RSU entitles the holder to receive, upon vesting, one Common Share, a cash payment, or a combination thereof ("Settled"), at the discretion of the Board of Directors, in accordance with the terms of the Plan and for no additional consideration. The RSUs vest on August 7, 2026.
Any Common Shares issued pursuant to the RSU's, will be subject to a four month hold period expiring on August 8, 2026.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil and gas 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,
Mark Vanry, President and CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
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 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.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
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