Wedge Energy International Inc.

Wedge Energy International Inc.

December 22, 2009 15:15 ET

WEG Completes Sale of Asset and Settlement With Creditors

OTTAWA, ONTARIO--(Marketwire - Dec. 22, 2009) - Wedge Energy International Inc. ("WEG" or the "Company") (CNSX:WEG) announced that the Company recently completed the sale of its interest in the 3 Hills property in Alberta. The proceeds of the sale enabled WEG to complete its settlement offer with its creditors as announced in Press Release # 09-06 dated April 29, 2009.

The amount owed to 7 creditors was $391,462.61 which was settled with $96,687.74 cash and the issuance of 651,798 common shares in the Company.

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"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."

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