BOE Report

Headwater Exploration Inc. announces results of directors vote

CALGARY, AB – Headwater Exploration Inc. (TSX: HWX) (“Headwater“) is pleased to announce that the nominees listed in the management information circular dated March 29, 2021 were elected as directors of Headwater at Headwater’s annual and special meeting of shareholders (the “Meeting“) held today, May 13, 2021. The detailed results of the vote for the election of directors held at the Meeting are set out below.

Election of Directors

On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of Headwater:

Nominee

Outcome of Vote

Votes For

Votes Withheld

Chandra Henry

Elected

148,334,408
(99.996%)

5,250
(0.004%)

Jason Jaskela

Elected

146,810,655
(98.969%)

1,529,003
(1.031%)

Phillip R. Knoll

Elected

148,336,857
(99.998%)

2,801
(0.002%)

Stephen Larke

Elected

146,698,944
(98.894%)

1,640,714
(1.106%)

Kevin Olson

Elected

148,335,857
(99.997%)

3,801
(0.003%)

David Pearce

Elected

148,223,397
(99.922%)

116,261
(0.078%)

Neil Roszell

Elected

146,594,381
(98.823%)

1,745,277
(1.177%)

Kam Sandhar

Elected

138,625,705
(93.452%)

9,713,953
(6.548%)

Sarah Walters

Elected

145,841,744
(98.316%)

2,497,914
(1.684%)