Headwater Gold Inc. announced a non-brokered private placement of 6,000,000 units at a price of CAD 0.38 per share for gross proceeds of CAD 2,280,000 on February 2, 2023. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an price of CAD 0.55 for a period of 24 months following the distribution date.

The finders' fees may be payable in connection with the offering in accordance with the policies of the Canadian Securities Exchange.