Mr. Robert Klenk reports

JAZZ RESOURCES ANNOUNCES A 8 - FOR - 1 SHARE CONSOLIDATION

Jazz Resources Inc. has arranged a consolidation of its common shares on the basis of one postconsolidated share for eight preconsolidated shares, and has withdrawn the financing previously announced in December, 2019.

Effective at open on Feb. 26, 2020, 20,616,939 of the currently issued and outstanding shares will be reduced to approximately 2,576,885 postconsolidation shares. No fractional shares will be issued under the consolidation. Each fractional share following the consolidation share will be rounded down to the nearest whole number.

The exercise or conversion price and the number of shares issuable under any of the company's outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted upon completion of the consolidation. A letter of transmittal will be sent to registered shareholders, providing instructions to surrender the certificates evidencing their shares for replacement certificates, representing the number of postconsolidation shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate representing shares prior to the consolidation will be deemed for all purposes to represent the number of shares to which the holder thereof is entitled as a result of the consolidation.

The board of directors of the company believes that the consolidation is necessary to better position the company for future corporate development opportunities and financing transactions.

In connection with the consolidation, the name of the company will not change, the company's trading symbol will remain JZR, and the company will be trading under the new Cusip 47214Y207 and ISIN CA47214Y2078.

We seek Safe Harbor.