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Vancouver, BC February 5, 2026 - TheNewswire - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), is pleased to provide the following shareholder update to summarize recent developments across its operations, financial position and near-term priorities. The update outlines several matters that have emerged over recent periods, including challenges that may continue to affect our performance during the first quarter of 2026, while providing steps management is taking to address these items and position the Company for longer-term stability and value creation.
Management Commentary
"While operational challenges in the latter half of 2025 impacted production and financial results, the Company has taken decisive steps to address these issues. With a strengthened operational framework and recent additional capital now in place, management is confident in its ability to improve performance. The Company is excited to re-establish growth momentum and deliver meaningful efficiency gains in 2026. "
Operations Update
During Q3 and Q4 of 2025 the Company experienced six weeks during which 3rd party gas pipeline shutdowns forced it to shut in most of its production. Further, due to local brush fires in October 2025, additional lease specific shutdowns occurred. As a result of the shutdowns, Wedgemount was unable to complete the entirety of its annual compliance work required under Texas Railroad Commission (the "RRC") regulations, resulting in additional lease and well production curtailments. It's now anticipated that the RRC compliance work will be completed over the next several weeks after which the Company will be able to restart production. Subject to ramp up going according to plan, the Company anticipates having 39 wells on production by the middle of February.
Funding
Management has taken steps to augment its balance sheet by entering into a new $250,000 USD bridge loan with three arms-length third parties. The first lien loan has an exit fee of $250,000 USD and covers a term of six months during which time Wedgemount will target additional longer-term financing including but not limited to selling a portion of its assets, monetizing royalties or completing one or more private placements.
Macro
Despite low commodity prices during 2025, general activity in Wedgemount's core area continues to accelerate. A variety of larger private and public companies are becoming more active outside of the traditional shale prone areas of the Permian Basin, which now have diminished drilling inventory after a decade of hyper growth. The Company's core focus on the conventional Eastern Shelf provides opportunity for 3rd party operators to leverage future growth through development of both producing and by-passed zones using techniques perfected in shale including multi-leg horizontal drilling and improved well completions.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior natural resource company focused on maximizing shareholder value through the acquisition, development and exploitation of energy projects in the southern, 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, probability of continuing challenges impacting operational and financial performance, management's confidence in its ability to improve performance, re-establish growth momentum and deliver meaningful efficiency gains in 2026, anticipation that the RRC compliance work will be completed over the next several weeks, anticipating having 39 wells on production by the middle of February, targeting additional longer-term financing, and the Company's core focus on the conventional Eastern Shelf providing opportunity. 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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