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Wedge Energy International Inc.: WEG Completes Private Placement of Convertible Notes

  //business-finance.news-articles.net/content/200 .. etes-private-placement-of-convertible-notes.html
  Published in Business and Finance on Wednesday, October 21st 2009 at 10:58 GMT by Market Wire
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OTTAWA, ONTARIO--(Marketwire - Oct. 21, 2009) - Wedge Energy International Inc. ("WEG" or the "Company") (CNSX:WEG) announced that the Company has signed a total of three agreements with three investors wherein the investors have agreed to purchase an aggregate of $270,000 principal amount of convertible notes ("the Notes"). The Notes are convertible into 5,400,000 common shares at a price of $0.05 per share. The Notes mature on October 9, 2010. The Corporation has also issued 5,400,000 warrants entitling the holder thereof to purchase common shares in the capital of the Corporation up to and until October 9, 2011 at a price of $0.10 per common share.

Interest on the principal amount shall be at 10% per annum, payable quarterly. The Company has the right to effectuate the payment of interest in common shares of the Company.

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The CNSX has not approved or disapproved of the information contained in this Press Release."