Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 165

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 165
---
 of the Securities Exchange Act of 1934, as amended, and the rules thereunder) in excess of 9.99% of the then issued and
outstanding shares of Common Stock. On May 2, 2022, the Holder converted 20,000 shares of Series D Preferred into 26,000 shares of Common
Stock.

Series E Convertible Preferred Stock

On August 26, 2024, our Board acting by unanimous
written consent, in accordance with Section 35 of the BCA, and holders of majority of the voting power of the Company duly adopted the
resolutions creating a new series of Preferred Stock, designated as “ Series E Convertible Preferred Stock” and adopted the
Certificate of Designation of Series E Convertible Preferred Stock (the “ Certificate of Designation of Series E Stock”) which
authorized for issuance 1,000,000 shares of Series E Convertible Preferred Stock and had the stated initial stated value of US$3.00 per
share (the “ Series E Preferred”). On September 23, 2024, the Certificate of Designation of Series E Stock was filed with the
Registrar of the Corporation. On September 26, 2024, the Company issued all shares of Series E Stock (125,000 shares of Series E Stock
were issued to each shareholder) in exchange for cancellation of the Company’s indebtedness to each holder under the promissory
note in the principal amount of $375,000.

The Certificate of Designation of Series E Stock
features a stated value of $3.00 per share, the conversion rate of 1 for 2.5 (reflecting the 1-for-4 post reverse split ratio), no additional
consideration by the Holder for the conversion of Series E Shares into the shares of the Company’s common stock and provided the
schedule of conversion, such as, (i) up to 30% of the Series E Shares issued to each Holder may be converted by such Holder at any time
from the date of the issuance; (ii) up to additional 30% of the Series E Shares counted on the date of the issuance may be converted by
such Holder at any time after 90 days from the date of the issuance; (iii) up to 40% of the Series E Shares counted on the date of the
issuance may be converted by such Holder after six (6) months from the date of the issuance. Pursuant to the Certificate of Designation