Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) has announced plans for a non-brokered private placement of up to 12 million units priced at $0.065 each, for total gross proceeds of up to $780,000.
The company intends to use the net proceeds from the private placement for general working capital.
Each unit will consist of one common share and one-half of a non-transferable common share purchase warrant.
Each whole warrant will allow the holder to purchase an additional common share at $0.12 for a period of two years from the date of issuance.
The company may pay finder’s fees to eligible third parties, including a 7% cash commission and 7% in warrants, based on the number of units sold through the finder.