(TheNewswire)
Vancouver, British Columbia – TheNewswire - August 31, 2022: Headwater Gold Inc. (CSE:HWG) (OTC:HWAUF) (the "Company" or"Headwater") is pleased to announce that further to its newsrelease of August 16, 2022, the Company has completed the non-brokeredprivate placement to raise gross proceeds of $871,424 through the saleof 5,446,397 common shares priced at $0.16 per share to a wholly ownedsubsidiary of Newcrest Mining Limited (“Newcrest”) (ASX, TSX,PNGX: NCM) (the “Equity Transaction”).
The Equity Transaction has resulted in Newcrest,through its subsidiary, owning approximately 9.9% of the total issuedand outstanding common shares of Headwater on a non-diluted basisimmediately following the Equity Transaction.
The proceeds from the Equity Transaction will be usedfor potential project acquisitions, ongoing exploration activities onthe Company’s 100% owned mineral projects in Idaho, Nevada andOregon, and for general working capital.
All securities issued in connection with the EquityTransaction will be subject to a statutory hold period expiringDecember 31, 2022.
About HeadwaterGold:
Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) is atechnically-driven mineral exploration company focused on theexploration and discovery of high-grade precious metal deposits in theWestern USA. Headwater is aggressively exploring one of the mostwell-endowed and mining-friendly jurisdictions in the world with agoal of making world-class precious metal discoveries. Headwater hasa large portfolio of epithermal vein exploration projects, and atechnical team comprised of experienced geologists with diversecapital markets, junior company, and major mining company experience. The Company is systematically drilltesting several projects in Nevada, Idaho, andOregon.
For more information, please visit the Company'swebsite at www.headwatergold.com .
On Behalf of the Board ofDirectors
Caleb Stroup
President and CEO
+1 (775) 409-3197
For further information, please contact:
Brennan Zerb
Investor Relations Manager
+1 (778) 867-5016
bzerb@headwatergold.com
Forward-LookingStatements:
This news release includes certainforward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian securities legislation. All statements,other than statements of historical fact, included herein including,without limitation, statements regarding future capital expenditures,anticipated content, commencement, and cost of exploration programs inrespect of the Company's projects and mineral properties, the intendeduse of proceeds of the Equity Transaction, and the anticipatedbusiness plans and timing of future activities of the Company, areforward-looking statements. Although the Company believes that suchstatements are reasonable, it can give no assurance that suchexpectations will prove to be correct. Often, but not always, forwardlooking information can be identified by words such as "proforma", "plans", "expects", "may", "should","budget", "scheduled", "estimates","forecasts", "intends", "anticipates","believes", "potential" or variations of suchwords including negative variations thereof, and phrases that refer tocertain actions, events or results that may, could, would, might orwill occur or be taken or achieved. Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto differ materially from any future results, performance orachievements expressed or implied by the forward-looking statements.Such risks and other factors include, among others, risks related tothe anticipated business plans and timing of future activities of theCompany, including the Company's exploration plans and the proposedexpenditures for exploration work thereon, the ability of the Companyto obtain sufficient financing to fund its business activities andplans, delays in obtaining governmental and regulatory approvals(including of the Canadian Securities Exchange) for the EquityTransaction, the ability of the Company to obtain the requiredpermits, changes in laws, regulations and policies affecting miningoperations, the Company's limited operating history, currencyfluctuations, title disputes or claims, environmental issues andliabilities, as well as those factors discussed under the heading"Risk Factors" in the Company's prospectus dated May 26,2021 and other filings of the Company with the Canadian SecuritiesAuthorities, copies of which can be found under the Company's profileon the SEDAR website at www.sedar.com .
Readers are cautioned not to placeundue reliance on forward-looking statements. The Company undertakesno obligation to update any of the forward-looking statements, exceptas otherwise required by law.
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