BOE Report

Headwater Exploration Inc. announces results of directors vote

CALGARY, AB – Headwater Exploration Inc. (“Headwater“) (TSX: HWX) is pleased to announce that the nominees listed in the Corporation’s management information circular dated April 1, 2022 were elected as directors of Headwater at Headwater’s annual and special meeting of shareholders (the “Meeting“) held today, May 12, 2022. 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

Elena Dumitrascu

Elected

161,184,953
(99.8%)

318,318

(0.2%)

Chandra Henry

Elected

159,587,532
(98.8%)

1,915,739
(1.2%)

Jason Jaskela

Elected

156,956,784
(97.2%)

4,546,487

(2.8%)

Phillip R. Knoll

Elected

161,457,065
(99.9%)

46,206
(0.1%)

Stephen Larke

Elected

138,514,146
(85.8%)

22,989,125
(14.2%)

Kevin Olson

Elected

161,337,633
(99.9%)

165,638

(0.1%)

David Pearce

Elected

159,856,264
(99.0%)

1,647,007
(1.0%)

Neil Roszell

Elected

159,739,805
(98.9%)

1,763,466
(1.1%)

Kam Sandhar

Elected

147,100,009
(91.1%)

14,403,262
(8.9%)