Jaxon Mining Inc. announced a non-brokered private placement of 20,000,000 units at a price of CAD 0.025 per unit for gross proceeds of CAD 500,000 on September 9, 2022. Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share at CAD 0.05 per share.

All securities to be issued pursuant to the transaction are subject to a four-month hold period under applicable Canadian securities laws. The company may pay finders fees in the transaction. The transaction is subject to regulatory approval.