Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 159

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 159
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 and,
with respect to each class or series, to determine the designations, powers, preferences, privileges and other rights, including dividend
rights, conversion rights, terms of redemption and liquidation preferences, any or all of which may be greater than the powers and rights
associated with the common stock, at such times and on such other terms as they think proper. Our Board of Directors may issue shares
of preferred stock on terms calculated to discourage, delay or prevent a change of control of our company or the removal of our management.

Designations of our Preferred Stock.

Series A Convertible Preferred Stock

On April 8, 2021, our Board of Directors, acting
by unanimous written consent, in accordance with Section 35 of the BCA, duly adopted the resolutions creating a new series of preferred
stock, par value $0.0001 per share (“ Preferred Stock”), designated as “ Series A Convertible Preferred Stock” and
adopted the Certificate of Designations of the Series A Convertible Preferred Stock (the “ Certificate of Designations of Series
A”) which authorized for issuance 1,500,000 shares of Series A Convertible Preferred Stock and had the stated initial stated value
of US$1.00 per share (the “ Series A Preferred”). On April 8, 2021, the Company offered and sold 1,500,000 shares of the Series
A Preferred to a single investor for total subscription proceeds of $1,500,000. On April 20, 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 A”) 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 A 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 A Preferred with the Registrar of Corporations, to correct an administrative
oversight. On April 25, 2022, the Company filed the Certificate of Designations of Series A Preferred with the Registrar of Corporations
under the Company’s former name, KBS Fashion Group Limited, and on April 27, 2022, the Company filed with the Registrar of Corporations
the First Amended and Restated Certificate of Designations of Series A