Wedgemount's CFO Steps Down and Its CEO Takes the Books

Wedgemount Resources Corp. (CSE: WDGY) said on August 28, 2026 that Steven Vanry resigned as Chief Financial Officer effective immediately, with President and CEO Mark Vanry appointed interim CFO while the company searches for a permanent replacement.

Wedgemount Resources Corp. (CSE: WDGY), which also trades in Germany under the symbol 8H5, told the market on August 28, 2026 that its Chief Financial Officer had left with no notice period. Steven Vanry resigned from the CFO role effective immediately. In his place, the company appointed Mark Vanry — already President and Chief Executive Officer — as interim CFO while it looks for a permanent hire.

The Vancouver-based company thanked Steven Vanry for his contributions and said the interim arrangement will hold while it conducts a search for a suitable replacement. No effective end date for the interim appointment was given, and no reason for the resignation was disclosed.

What combining the CEO and CFO roles actually changes

On paper, a small issuer folding the finance function into the chief executive's office is unremarkable. On the Canadian Securities Exchange, where many listed resource companies operate with a handful of officers, a founder-CEO signing off on the numbers is a familiar structure. Practically, though, it removes a layer of internal review that investors quietly rely on.

The CFO is the officer who certifies annual and interim filings alongside the CEO under Canadian continuous-disclosure rules. When one person holds both titles, the two certifications are signed by the same hand. That is legal and disclosed, but it concentrates responsibility for accruals, going-concern language, valuation of exploration and evaluation assets, and the timing of impairments in the same person who is also responsible for promoting the company's projects and raising the money to fund them.

The shared surname is worth noting for what it is: the outgoing CFO and the incoming interim CFO are both named Vanry. The company's release does not describe any relationship between them, and none should be assumed. What the filing does establish is that the finance seat has moved from a separate officer to the chief executive, and that the board considers that acceptable on a temporary basis.

Why the finance seat matters more at a pre-revenue resource company

Wedgemount describes itself as an emerging natural resource company focused on the acquisition and advancement of energy and critical minerals projects in the southern United States. That description carries two implications for the CFO role.

The first is funding. Companies at the acquisition-and-advancement stage generally do not fund themselves from operations; they fund themselves from the equity market, from convertible instruments, or from asset-level partners. Structuring those raises, managing dilution, and keeping working capital ahead of committed spending is core CFO work. When it becomes a part-time responsibility of the CEO, execution risk on financings rises even if nothing else changes.

The second is accounting judgment. Critical-minerals and energy assets in early stages sit on the balance sheet at capitalised cost, and decisions about when to write them down are judgment calls. Auditors test them; a resident CFO argues them. An interim officer wearing two hats has less bandwidth for that argument, and a permanent successor arriving mid-cycle typically wants to revisit the assumptions inherited from a predecessor. Investors in the name should expect the eventual hire to be a small event in its own right.

Critical-minerals and energy assets in early stages sit on the balance sheet at capitalised cost, and decisions about when to write them down are judgment calls.

The announcement was distributed via TheNewswire and carried by INN Precious Metals. The release was marked as not for distribution to United States newswire services, standard language for a Canadian issuer that has not registered the disclosure for U.S. dissemination — a reminder that American holders of a CSE-listed name often see this kind of news later, and through fewer channels, than domestic holders do.

The market backdrop the search will run into

Wedgemount's timing is not helped by the tape. Broad U.S. equity benchmarks finished the same session slightly lower: the S&P 500 tracker closed at $769.35, down 0.23% on the day from a prior close of $771.10; the Nasdaq 100 proxy ended at $716.43, off 0.65% from $721.11; and the Dow tracker was effectively flat at $535.06, down 0.03%. Those are as of the last trade at 20:00 GMT on August 28, 2026, with the market closed.

A quiet, mildly negative session in large caps says nothing directly about a micro-cap explorer, but it describes the environment in which a company at Wedgemount's stage has to compete for capital. Critical-minerals developers have spent the cycle arguing that Western supply chains need domestic feedstock; that thesis draws generalist money in risk-on stretches and loses it quickly when index leadership stalls. A vacancy in the finance seat is a harder sell to a new institutional holder than a filled one.

What to watch from here

How long the interim period runs. A permanent CFO named within a normal recruiting window reads as routine turnover. An interim arrangement that quietly extends across a reporting deadline reads differently.
The next financing. Terms, size and whether the raise is led by the CEO in his dual capacity will show how much the vacancy is costing the company in negotiating leverage.
Filing timeliness. Interim and annual statements filed on schedule, with certifications intact, are the cleanest evidence that the handover is administrative rather than symptomatic.
Any further board or officer changes. Single departures at small issuers are common; clusters are the thing to track.

For now the disclosed facts are narrow: one officer out, effective immediately; the chief executive covering the role; a search under way. The company gave a contact line of (604) 343-4743 and an email address, info@wedgemountresources.com, for further enquiries. Everything beyond that — the reason for the exit, the shape of the replacement, the funding plan behind it — is still to be disclosed.

Key facts

Company and listings: Wedgemount Resources Corp. (CSE: WDGY; FSE: 8H5), Vancouver, BC
Change announced: CFO Steven Vanry resigned effective immediately, August 28, 2026
Interim replacement: Mark Vanry, President & CEO, appointed interim CFO pending a search
Market backdrop (last trade 20:00 GMT, Aug 28, 2026): S&P 500 (SPY) $769.35, -0.23%; Nasdaq 100 (QQQ) $716.43, -0.65%

Frequently asked questions

Who left Wedgemount Resources and when?

Steven Vanry resigned as Chief Financial Officer of Wedgemount Resources Corp., effective immediately, in an announcement dated Vancouver, BC, August 28, 2026. The company thanked him for his contributions and wished him well in future endeavors. No reason for the resignation was disclosed in the announcement.

Who is running Wedgemount's finance function now?

Mark Vanry, Wedgemount's President and Chief Executive Officer, has been appointed interim Chief Financial Officer. He will hold both roles while the company conducts a search for a suitable permanent replacement. The company did not state how long the interim arrangement is expected to last.

Where does Wedgemount Resources trade?

Wedgemount Resources Corp. trades on the Canadian Securities Exchange under the symbol WDGY and on the Frankfurt Stock Exchange under the symbol 8H5. The company is based in Vancouver, British Columbia, and its announcement was marked as not for distribution to United States newswire services.

What does Wedgemount Resources do?

The company describes itself as an emerging natural resource company focused on the acquisition and advancement of energy and critical minerals projects in the southern United States. That places it at a pre-production stage, where funding typically comes from capital markets rather than from operating cash flow.

Is a CEO doubling as CFO a governance problem?

It is common at small listed resource companies and is permitted, but it concentrates responsibility. Under Canadian disclosure rules the CEO and CFO both certify financial filings, so when one person holds both titles that internal check is reduced. Investors usually treat a short, clearly disclosed interim period as routine.

What should investors watch next?

Three things: how quickly a permanent CFO is named, whether interim and annual filings are made on schedule with certifications intact, and the terms of the company's next financing. Further officer or board departures, if they come as a cluster rather than singly, would be the more meaningful signal.

Sources

Wedgemount Announces Change in Management — INN Precious Metals

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