Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 79

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 79
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 Assignees, with each Assignee being assigned all
of the Original Noteholder’s rights, title and interest in, and to the principal amount of $375,000 (the “ Assignment”),
and the Company recognized each Assignee as the owner of the Assignment, and issued to each Assignee a new promissory note in the principal
amount of $375,000 (the “ New Note”) on the same terms as the 2024 Original Note.

On August 26, 2024, the Company and the Holders
entered into a debt exchange agreement (the “2024 Exchange Agreement”), pursuant to which, on September 26, 2024, at the closing,
the Company issued to Holders, collectively, an aggregate of 1,000,000 shares (each Holder was issued 125,000 shares) of newly-designated
Series E Convertible Preferred Stock (the “ Series E Stock”), in exchange of cancellation of $375,000, representing each Holder’s
portion of the Company’s total indebtedness to the Holders under the New Notes. The shares of Series E Stock were issued pursuant
to the terms of the Certificate of Designation of Series E Stock, filed by the Company on September 23, 2024 with the Registrar of the
Corporation under the BCA, establishing the Series E Stock.

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
of Series E Stock, on April 3, 2025, the Company required holders to convert all Series E Shares that remained