Wedgemount Announces Passing of Director, Upsized Private Placement Closing, & RSU Grants

Wedgemount Resources Corp., a junior oil and gas company, has announced several significant corporate developments. The company mourns the loss of Independent Director Cody Campbell, who passed away on March 6, 2026, at age 43. Campbell had served as a director since the company's founding in 2020 and provided valuable guidance through his extensive experience with junior natural resource companies.

On the operational front, Wedgemount successfully closed an upsized non-brokered private placement raising $1.25 million through the issuance of 25 million common shares priced at $0.05 per share. The company paid finder's fees of $16,520 in connection with the offering. Management intends to deploy the net proceeds toward marketing initiatives, expansion of field operations, and general working capital requirements.

Additionally, the company has approved an equity compensation grant of 1 million restricted share units to certain executive officers under its Equity Compensation Plan. These RSUs will vest on August 7, 2026, and can be settled in common shares, cash, or a combination thereof at the board's discretion. The timing of both the financing and equity grants suggests the company is positioning itself for expanded operations.

For the broader junior oil and gas sector, this financing activity demonstrates continued investor appetite for Canadian energy assets, particularly as companies seek to capitalize on favorable commodity price environments. The successful completion of the private placement provides Wedgemount with the financial flexibility to advance its North American natural resource projects and potentially pursue new acquisition opportunities in line with its stated strategy of maximizing shareholder value through strategic asset accumulation.