Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 160

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 160
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, reflecting the Company’s name “ JX Luxventure Limited”
and restating all provisions set forth in the Certificate of Designations of Series A Preferred. 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 1,500,000
shares of Series A economically, as if such holder (the “ Holder”) has been the holder of 1,500,000 shares of Series A since
April 8, 2021, the date of the purported issuance of Series A Preferred, rather than the date of the filing of the Certificate of Series
A Preferred and the First Amended and Restated Certificate of Series A Preferred with the Registrar of Corporations. On May 10, 2022,
the Company filed with the Registrar of Corporations the Second Amended and Restated Certificate of Designation of Series A Preferred.
As set forth in the Second Amended and Restated Certificate of Series A Preferred, it features a stated value of $1.00 and is convertible
to shares of our Common Stock at any time from the date of issue. Conversions are limited, however, such that no conversion may made to
the extent that 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 at such time, would result in the Holder beneficially owning (as determined in accordance with Section
13(d) of the Exchange Act and the rules thereunder) in excess of 9.99% of our then issued and outstanding shares of Common Stock. Series
A Convertible Preferred Stock votes together with holders of shares of Common Stock on an as-if-converted basis, 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 A Preferred are subject to a two-year lock-up agreement running from the initial closing of the financing. Our offer and
sale of the Series A 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. On May 10, 2022, the Holder converted 260,000
shares of Series A Preferred into 26,000 shares of Common Stock. On the date of this Annual Report, there are 1