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Wedgemount Resources ( (TSE:WDGY) ) has provided an announcement.
Wedgemount Resources has closed an offer to settle a portion of outstanding interest owed on its 10% unsecured convertible debentures issued in 2024 by paying the August 25, 2025 interest obligation of $95,250 through the issuance of 1,907,000 common shares at a deemed price of $0.05 per share. Debenture holders representing $1,907,000 in principal have agreed to the share-based settlement, which remains subject to Canadian Securities Exchange approval, reflecting the company’s continued reliance on equity-based measures to manage its debt obligations and preserve cash as it advances its Texas oil and gas assets.
The most recent analyst rating on (TSE:WDGY) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Wedgemount Resources stock, see the TSE:WDGY Stock Forecast page.
Spark’s Take on TSE:WDGY Stock
According to Spark, TipRanks’ AI Analyst, TSE:WDGY is a Neutral.
Wedgemount Resources is currently facing severe financial difficulties, with declining revenues, persistent losses, and a weak balance sheet. Technical indicators further suggest bearish momentum, and the negative P/E ratio highlights valuation concerns. These factors collectively result in a low overall stock score.
To see Spark’s full report on TSE:WDGY stock, click here.
More about Wedgemount Resources
Wedgemount Resources Corp. is a junior natural resource company focused on acquiring, developing and exploiting oil and gas projects in Texas, USA, with an emphasis on maximizing shareholder value in the North American energy sector.
Average Trading Volume: 85,064
Technical Sentiment Signal: Sell
Current Market Cap: C$2M
For an in-depth examination of WDGY stock, go to TipRanks’ Overview page.