Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 161

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 161
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,240,000 shares of Series
A Preferred issued and outstanding.

Series B Participating Preferred Stock and
Rights Dividend

On March 12, 2021, we announced the authorization
and declaration of a dividend distribution of one right (a “ Right”) for each outstanding share of Common Stock, par value
$0.0001 per share, of the Company to stockholders of record as of the close of business on March 31, 2021 (the “ Record Date”).
Each Right entitles the registered holder to purchase from the Company one 0.00667 portion of a share of Series B Participating Preferred
Stock, par value $0.0001 per share (the “ Preferred Stock”), of the Company at an exercise price of $50.00 (the “ Exercise
Price”). The complete terms of the Rights are set forth in a Preferred Stock Rights Agreement (the “ Rights Agreement”),
dated as of March 11, 2021, between the Company and American Stock Transfer & Trust Company, LLC, as rights agent.

Our Board of Directors adopted the Rights Agreement
to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty
upon any person or group that acquires 15% or more of the Company’s Common Stock without the approval of the Board. As a result,
the overall effect of the Rights Agreement and the issuance of the Rights may be to render more difficult or to discourage a merger, tender
or exchange offer or other business combination involving the Company that is not approved by the Board. However, neither the Rights Agreement
nor the Rights should interfere with any merger, tender or exchange offer or other business combination approved by our Board. 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 B Participating Preferred Stock 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 B Participating Preferred Stock
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 B Participating Preferred Stock with the Registrar of Corporations, to correct an administrative oversight. On
April 25, 2022, the Company filed the Certificate of