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Vancouver, BC TheNewswire - April 10, 2026, Wedgemount Resources Corp. (CSE: WDGY)(OTCQB: WDGRF) ("Wedgemount" or the "Company"), today announces an agreement to assign a Net Revenue Interest ("NRI") in the Company's west central Texas oil and gas assets to two arm's length third parties (the "Assignees") for proceeds of $USD 235,000.
Under the terms of the NRI, Wedgemount will pay the Assignees 10% of the Company's net revenues realized by Wedgemount Texas Corp. (the "Subsidiary") until 100% return of capital (the "ROC"). Thereafter the NRI will be reduced to 6.5% until the Assignees have received 200% ROC. The NRI shall be calculated after deduction of royalties and taxes and before operating expenses. NRI payments will commence as of July 25, 2026.
Use Of Proceeds
Proceeds from the NRI will be immediately deployed for additional field optimization work on the Company's Permian Basin assets the result of which is anticipated to increase the existing production of oil, condensate and natural gas.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of oil and gas projects in Texas, USA.
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 includes, deploying more growth capital into existing assets. 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.
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