Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 162

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 162
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 Designation of Series B Participating Preferred Stock with the Registrar of Corporations
under the Company’s former name, and on April 27, 2022, we filed the Amended and Restated Certificate of Designation of Series B
Participating Stock with the Registrar of Corporations reflecting the Company’s current name.

Series C Convertible Preferred Stock

On September 1, 2021, our Board, acting by unanimous
written consent, in accordance with Section 35 of the BCA, duly adopted the resolutions creating a new series of Preferred Stock, designated
as “ Series C Convertible Preferred Stock” and adopted the Certificate of Designations of the Series C Convertible Preferred
Stock (the “ Certificate of Designations of Series C”) which authorized for issuance 150,000 shares of Series C Convertible
Preferred Stock and had the stated initial stated value of US$10.00 per share (the “ Series C Preferred”). On September 1,
2021, the Company sold 150,000 shares of the Series C Preferred for total subscription proceeds of $1,500,000 to Sun Lei, our Chief Executive
Officer and a member of our board. Our Series C Convertible Preferred Stock features a stated value of $10.00 and is convertible to shares
of our Common Stock at any time after 6 months from the date of issue. On April 20, 2022, our Board adopted resolutions, by unanimous
written consent, pursuant to Section 35 of the BCA, in which it determined that the Certificate of Designation of Series C Preferred was
not filed with the Registrar of Corporations, in accordance with the provisions of sections 35 and 5 of the BCA at the time the Certificate
of Designation of Series C Preferred was approved by the Board, and that it is in the best interests of the Corporation and its stockholders
to correct the file the Certificate of Designation of Series C Preferred with the Registrar of Corporations, to correct an administrative
oversight. Pursuant to this unanimous written consent dated April 20, 2022, the Board of Directors ratified and confirmed to treat the
investor that purported to have been issued 150,000 shares of Series C economically, as if such holder (the “ Holder”) has
been the holder of 150,000 shares of Series C Preferred since September 1, 2021, the date of the purported issuance of Series C Preferred,
rather than the date of the filing of the