Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 77

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 77
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 available to be issued under the New 2022 EIP under another S-8 Registration Statement.

On May 7, 2025, the
Board and shareholders of 65% of issued and outstanding capital stock of the Company, approved, by written consent, and adopted an
amendment to the New 2022 EIP (the “ Plan Amendment”), which, among other things, among other things, increased the
maximum number of shares issuable thereunder to 25 million (25,000,000) and eliminated any limitations on the number of shares that
could be granted to participants in any fiscal year as performance-based compensation. As of the date of this Annual Report,
1,000,000 shares of Common Stock were issued under the New 2022 EIP, as amended.

On October 19, 2022, the Company entered into
a stock purchase agreement (the “ Stock Purchase Agreement”) with Shenzhen Zhongjiyingfeng Investment Co., Ltd. (the “ Purchaser”),
pursuant to which on the same date it closed the transaction (the “ Closing”) Company’s sold 20,000 shares of common
stock of Hongri International, constituting all of the issued and outstanding capital stock of Hongri International, to the Purchaser,
in consideration for $10,000,000 (the “ Purchase Price”).

At the Closing, the Purchaser issued to the Company
a 5% promissory note in the principal amount of $10,000,000, in payment of the Purchase Price (the “ Note”), payable in four
installments, on the following dates and in the following amounts: (a) $1,000,000, together with an accrued interest, is payable on or
before November 19, 2022; (b) $2,000,000, together with an accrued interest, is payable on or before April 19, 2023; (c) $3,000,000, together
with an accrued interest, is payable on or before April 19, 2024, and (d) the remaining $4,000,000, together with an accrued interest,
is payable on or before October 19, 2024. As further inducement of the Company to enter into the Stock Purchase Agreement and to sell
the Shares to the Purchaser on the terms of the Stock Purchase Agreement, on the Closing, the Purchaser and the Company entered into and
executed a