Headwater Exploration Inc. press release

HEADWATER EXPLORATION INC. ANNOUNCES RESULTS OF DIRECTORS VOTE

2022-05-12

TSX - Toronto Stock Exchange · Oil · Natural Gas · Natural Gas Liquids · Canada · Management & Governance

Canada NewsWire

CALGARY, AB , May 12, 2022 /CNW/ - 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%) |

SOURCE Headwater Exploration Inc.

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