Jaxon to Forward Split and Name Change
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2017) - As permitted by the Company's Articles, the Board of Directors of Jaxon Minerals Inc. (TSXV: JAX) (FSE: 0U3) ("Jaxon" or the "Company") has approved a share split of the Company's issued and outstanding common shares on the basis of 1.25 new common shares for every existing common share. Outstanding stock options and warrants will be adjusted on the basis of the same ratio. Any fractional shares resulting from the share split will be cancelled. Jaxon currently has a total of 51,054,223 common shares issued and outstanding. Following the share split, the Company will have 63,817,779 common shares issued and outstanding, subject to reduction for any cancelled fractional shares.
The Company believes that having a greater number of common shares at a reduced price will enhance long-term liquidity and increase investor interest in Jaxon and its business.
Concurrent with the share split, the Board of Directors of Jaxon has also approved a name change of the Company from "Jaxon Minerals Inc." to "Jaxon Mining Inc." The name change and share split are subject to final approval of the TSX Venture Exchange. As the Company works with its transfer agent on the name change and share split, new CUSIP / ISN numbers will be generated and Jaxon will issue a news release announcing the mechanics and effective date of the share split.
Jaxon is a base and precious metals exploration company with a regional focus on Western Canada. The company is currently focused on advancing its Hazelton Project in north-central British Columbia and the Wishbone/Foremore property in BC's Golden Triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.
"Jason Cubitt" ______
Jason Cubitt, President.
For further information regarding Jaxon Minerals Inc., please contact 604-608-0400, Toll free: 1-877-608-0007.
This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release