Business
Headwater Gold Completes Strategic Investment by Centerra Gold
Vancouver, British Columbia, September 17, 2024 - TheNewswire: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the "Company" or "Headwater") is pleased to announ
About this update from Headwater Gold, Inc.
[{"type":"text","content":"Vancouver, British Columbia, September 17, 2024 - TheNewswire: Headwater Gold Inc. (CSE: HWG) (OTCQB: HWAUF) (the \"Company\" or \"Headwater\") is pleased to announce that, further to its news release of September 9, 2024, the Company has completed a non-brokered private placement to raise gross proceeds of $1,540,000 through the sale of 7,000,000 common shares of the Company priced at $0.22 per share to Centerra Gold Inc. (“Centerra”). Centerra has acquired 9.9% of the issued and outstanding common shares of the Company. The Company and Centerra have entered into an investor rights agreement, whereby, subject to certain conditions, including time and ownership thresholds, Centerra will retain certain limited rights, including the right to participate in future equity issuances to maintain its percentage ownership in the Company. The proceeds from the financing will be used for exploration activities at the Company’s western United States projects and for general working capital. All securities issued are restricted from trading until January 17, 2025. About Headwater Gold Headwater Gold Inc. (CSE: HWG, OTCQB: HWAUF) is a technically driven mineral exploration company focused on the exploration and discovery of high-grade precious metal deposits in the Western USA. Headwater is aggressively exploring one of the most well-endowed and mining-friendly jurisdictions in the world with a goal of making world-class precious metal discoveries. Headwater has a large portfolio of epithermal vein exploration projects and a technical team of experienced geologists with diverse capital markets, junior and major mining company backgrounds. The Company is systematically drill testing several projects in Nevada and in August 2022 and May 2023 announced significant transactions with Newmont Corporation where it acquired a 9.9% strategic equity interest in the Company and entered into earn-in agreements on several of Headwater’s projects, including Spring Peak and Lodestar which continue under partnership towards a goal of discovering a Tier-one scale gold deposit in Nevada. Headwater is part of the NewQuest Capital Group which is a discovery-driven investment enterprise that builds value through the incubation and financing of mineral projects and companies. Further information about NewQuest can be found on the company w...