Wedgemount Announces Secured Debt Settlement
Investing News Network (inn)
Wedgemount Resources Corp. announced a debt settlement agreement to settle USD$275,000 of secured debt by issuing 4,819,375 Debt Units.Summary
Wedgemount Resources Corp. (CSE: WDGY) entered into a debt settlement agreement to satisfy USD$275,000 (CAD$385,550) of secured debt. The company will issue 4,819,375 Debt Units at $0.08 each, each comprising one common share and half a warrant exercisable at $0.12 for two years. This preserves cash for working capital. The settlement requires Exchange approval and includes a four-month hold period. No related parties are involved, so it is not a related party transaction under MI 61-101.
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