Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 166

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 166
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of Series E Stock, on April 3, 2025, the Company required holders to convert all Series E Shares that remained outstanding on or after
March 14, 2025 into shares of common stock. As a result, as of the date of this Annual Report, all of 1,000,000 Series E Shares were converted
into 2,500,000 shares of Common Stock, and the Company does not have any outstanding shares of Series E Preferred Stock.

Series F Shares feature a stated value of $20.00
per share and are convertible to shares of the Company’s Common Stock at the conversion rate of 1 for 100, such as each Series F
Share to be converted into 100 shares of the Company’s Common Stock without payment or any additional consideration by the holder
thereof. Such conversion is subject to the following schedule: (i) up to 2,000 of the Series F Shares issued to each holder may be converted
by such holder at any time from the date of the issuance; (ii) up to additional 2,500 of the Series F Shares may be converted by such
Holder at any time after 90 days from the date of the issuance; (iii) up to 3,000 of Series F Shares counted on the date of the issuance
may be converted by such Holder after six (6) months from the date of the issuance; and (iv) the remaining 4,000 of the Series F Shares
may be converted by such holder after nine (9) months from the date of the issuance. If any Series F Shares remain outstanding on or after
one (1) year from the date of the issuance, the Company will have the right, but not the obligations, to require the holders of such Series
F Shares to convert them into the number of fully paid and non-assessable shares of common stock as would result from multiplying the
number of Series F Shares by 100.

Directors

The business and affairs of the Company are managed
by or under the direction of our Board of Directors.

Our directors are elected by the holders of the
shares representing a majority of the total voting power of the then-outstanding capital stock of the Company entitled to vote generally
in the election of directors (“ Voting Stock”). Our Restated Articles provide that cumulative voting shall not be used to elect
directors. Each director will be elected to serve until the next annual meeting of shareholders and until his/her successor shall have
been duly