Shareholders Urged to Vote the Concerned Shareholder Proxy to Strengthen Board with Four New Highly Qualified Nominees

VANCOUVER, BC / ACCESSWIRE / August 2, 2024 / Karim Rayani of R7 Capital Ventures Ltd. (the "Concerned Shareholder"), in his capacity as a holder of approximately 5% of the issued and outstanding common shares of Jaxon Mining Inc., (JAX:TSX.V) ("Jaxon" or the "Company") announces that, further to its news release dated February 16, 2024, it has formally set a meeting of the shareholders of Jaxon (the "Shareholders" which will be held at 2900 - 733 Seymour Street, Vancouver, British Columbia on August 9, 2024 at 10:00 a.m. (PST) (the "Requisitioned Meeting").

The purpose of the Requisitioned Meeting is to replace the incumbent board of directors of Jaxon with new nominees identified in a proxy circular that was distributed to the Shareholders on July 22, 2024. The Shareholders have until 10:00 a.m. (PST) on August 7, 2024 to vote their proxies.

At the Requisitioned Meeting, the Shareholders will be asked to approve a special resolution to remove the incumbent directors of Jaxon (the "Special Resolution") as well as approve an ordinary resolution to elect the new directors of the Company (the "Ordinary Resolution"). Under the Company's Articles, a simple majority of the votes of those Shareholders who are present and vote either in person or by proxy at the Meeting is required in order to pass the Ordinary Resolution. A majority of not less than two-thirds of the votes of those Shareholders who are present and vote either in person or by proxy at the Meeting is required to pass the Special Resolution.

Additional Information

The information contained in this press release does not and is not meant to constitute a solicitation of proxies within the meaning of applicable securities laws.

Cordially,

R7 Capital Ventures Ltd.
Karim Rayani
Chairman & Chief Executive Officer
Tel: +1 604 716 0551 E: k@r7.capital

SOURCE: R7 Capital Ventures Ltd.