Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 164

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 164
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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 D 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 D 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 D 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 100,000 shares of Series D Preferred economically, as if such holder (the “ Holder”) has been
the holder of 100,000 shares of Series D Preferred since November 1, 2021, the date of the purported issuance of Series D Preferred, rather
than the date of the filing of the Certificate of Series D Preferred and the Amended and Restated Certificate of Series D Preferred with
the Registrar of Corporations. On April 25, 2022, the Company filed the Certificate of Designation of Series D Preferred with the Registrar
of Corporations, and on April 27, 2022, we filed the Amended and Restated Certificate of Designation of Series D Preferred with the Registrar
of Corporations. As stated in the Amended and Restated Certificate of Designation of Series D Preferred, shares of Series D Preferred
vote together with holders of shares of Common Stock on an as-if-converted basis; have no special dividend right, ranks equal to the Common
Stock with respect to rights upon liquidation and are convertible into shares of Common Stock on a 1 do 13 basis at any time following
the issuance, subject to the adjustments with respect to the reverse stock split, as a result of which each share of Series D Preferred
Stock may be currently converted into 1.3 shares of Common Stock However, the conversion is limited to the extent that no conversion may
occur if the number of shares of Common Stock to be issued pursuant to such conversion, when aggregated with all other shares of Common
Stock owned by the holder of such shares at such time, would result in the holder beneficially owning (as determined in accordance with
Section 13(d)