R7 Capital Announces Special Meeting of Jaxon's Shareholders on August 30th 10am; Votes Must be Received By No Later Than This Wednesday at 10am Pacific Time on August 28th 2024

VANCOUVER, BC / ACCESSWIRE / August 26, 2024 / R7 Capital Ventures Ltd. (the "Concerned Shareholder" or "R7") advises that the special meeting of the shareholders of Jaxon Mining Inc. (the "Company") scheduled for August 9, 2024 at 10:00a.m. (Pacific Time) (the "Meeting") has been adjourned to August 30, 2024 at 10:00 a.m. (Pacific Time) to be held at 2900 - 733 Seymour Street, Vancouver, British Columbia.

The Concerned Shareholder called the Meeting pursuant to section 167(8) of the British Columbia Business Corporations Act for the purpose of electing a new Board of Directors of the Company.

The Concerned Shareholder became aware that proxies voting a material number of common shares of the Company were delivered after the deadline for delivery of executed proxies and that some significant shareholders outside of North America did not receive the Meeting materials in a timely manner such that they were unable to vote prior to the proxy deadline. As a result, the Meeting has been adjourned to allow all shareholders the opportunity to consider and vote on the business to be transacted at the Meeting.

Completed and executed proxies must be delivered to the offices of the Company's transfer agent and registrar, in accordance with the instructions set out in the Concerned Shareholders' information circular dated July 9, 2024, no later than 10:00 a.m. (Pacific Time) on August 28, 2024.

R7 Capital Ventures Ltd.

R7 is a leading investment family office firm specializing in Public Venture Capital, the firm's investments are diverse, covering natural resources, cleantech, renewables, biotech and blockchain technologies. R7 has extensive experience and wide-ranging connections within various industries, newly formed companies have an advantage in terms of marketing exposure and access to capital. R7 provides access to a portion of the market that is not normally available to them. R7 has offices in Canada and Europe.

As part of the circular, R7 has put forward a proposal for shareholders to vote on the following agenda:

• Appointment of Four New Directors: R7 is nominating four highly qualified Directors to join the Board. These nominees bring a wealth of experience in finance, corporate strategy and industry-specific expertise that will be instrumental in guiding Jaxon Mining through its next phase of growth.

• Strategic Review: The newly proposed board members will oversee a comprehensive review of the Company's direction. This includes assessing current business operations, identifying growth opportunities, and ensuring the Company is aligned with Shareholder Interests.

• Financial Performance and Accountability: The proposed board members are committed to holding the management accountable for the financial performance. This includes setting clear financial goals optimizing operational efficiency, and delivering fulsome disclosure and governance.

The current Board of Jaxon seems to be functioning as a private corporation with blind support from its board of directors who own very little stock in the Company. Management has demonstrated a lack of ability to understand Jaxon's mineral assets and deploy reasonable business practices to explore the assets and gain investor and industry respect as a credible exploration company. The lack of performance and poor decision making are negatively effecting shareholder confidence further eroding shareholder value. The Concerned Shareholder believes that a time when not only in Canada but globally there is a focus on discovering critical mineral deposits, Jaxon needs to establish a board of directors and executive team that are able to help Jaxon revamp its business strategy with integrity and professionalism and inclusive of all stakeholders.

The Vote on the Dissident circular and the board nominees will take place at the upcoming shareholders' meeting scheduled for August 30^th at 10am. R7 urges all shareholders to carefully consider the proposals and cast their votes accordingly.

Cordially,

R7 Capital Ventures Ltd.

Karim Rayani
Chairman & Chief Executive Officer
Tel: +1 604 716 1036 E: k@r7.capital

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.

SOURCE: R7 Capital Ventures Ltd.