Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 163

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 163
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 Certificate of Series C Preferred and the Amended and Restated Certificate of Series C Preferred
with the Registrar of Corporations. On April 25, 2022, the Company filed the Certificate of Designation of Series C Preferred 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 C Preferred with the Registrar of Corporations reflecting the Company’s current name.

As stated in our Amended and Restated Certificate
of Designation of Series C Preferred, each share of Series C Preferred is convertible into 5 shares of Common Stock, subject to adjustments
resulting from reverse stock splits. As a result of the 1-for-10 Reverse Stock Split, which became effective on April 26, 2023, two shares
of the Series C Preferred Stock is convertible into 1 share of Common Stock. Series C Preferred votes together with holders of Common
Stock on an as-if-converted basis, which is not exercisable for one year, has no special dividend rights, and ranks equally to our Common
Stock with respect to rights upon liquidation. All shares of Common Stock issuable upon conversion of the Series C Preferred are subject
to a one-year lock-up agreement running from the initial closing of the financing. Our offer and sale of the Series C Preferred was exempt
under Rule 506(b) under Regulation D, as it did not involve any general solicitation or advertising and was made to an accredited investor
within the meaning of Rule 501 under Regulation D.

Series D Convertible Preferred Stock

On October 18, 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 D Convertible Preferred Stock” and adopted the Certificate of Designations of the Series D Convertible Preferred
Stock (the “ Certificate of Designations of Series D”) which authorized for issuance 100,000 shares of Series D Convertible
Preferred Stock and had the stated initial stated value of US$39.00 per share (the “ Series D Preferred”). On November 1, 2021,
the Company offered and sold 100,000 shares of Series D Preferred to an accredited investor for the total gross proceeds of $3,900,000,
in reliance upon Section 4(a)(2) of the Securities Act. On April 20,