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Headwater Exploration Inc. press release

HEADWATER EXPLORATION INC. ANNOUNCES RESULTS OF ANNUAL SHAREHOLDER MEETING

TSX - Toronto Stock Exchange · Oil · Natural Gas · Natural Gas Liquids · Canada

Canada NewsWire

CALGARY, AB , May 11, 2023 /CNW/ - Headwater Exploration Inc. (" Headwater ") (TSX: HWX) is pleased to announce that the nominees listed in the Corporation's management information circular dated March 27, 2023 were elected as directors of Headwater at its annual meeting of shareholders (the " Meeting ") held today, May 11, 2023 . In addition, all other matters considered at the Meeting were approved by Headwater's shareholders.

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

| Nominee | | Outcome of Vote | | Votes For | | Votes Withheld | | Devery Corbin | | Elected | | 148,100,724

(99.8%) | | 330,974

(0.2%) | | Elena Dumitrascu | | Elected | | 147,295,573

(99.2%) | | 1,136,125

(0.8%) | | Chandra Henry | | Elected | | 142,230,444

(95.8%) | | 6,201,254

(4.2%) | | Jason Jaskela | | Elected | | 142,350,912

(95.9%) | | 6,080,786

(4.1%) | | Phillip R. Knoll | | Elected | | 147,719,059

(99.5 %) | | 712,639

(0.5%) | | Stephen Larke | | Elected | | 142,546,347

(96.0%) | | 5,885,351

(4.0%) | | Kevin Olson | | Elected | | 147,640,409

(99.5 %) | | 791,289

(0.5%) | | David Pearce | | Elected | | 142,543,615

(96.0 %) | | 5,888,083

(4.0%) | | Neil Roszell | | Elected | | 141,440,231

(95.3%) | | 6,991,467

(4.7%) | | Kam Sandhar | | Elected | | 147,427,184

(99.3 %) | | 1,004,514

(0.7%) |

KPMG LLP, Chartered Professional Accountants, was appointed as the auditors of Headwater with 99.9% of the shares represented at the Meeting voting in favour of their appointment.

The resolution to accept Headwater's approach to executive compensation was approved, on a non-binding advisory basis, with 98.6% of the shares represented at the Meeting voting in favour of the resolution.

SOURCE Headwater Exploration Inc.

View original content: http://www.newswire.ca/en/releases/archive/May2023/11/c4980.html

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