Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 81

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 81
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 the Company (the “2025 Exchange Agreement”), pursuant to which, the Assignees agreed to cancel
an aggregate of $1,380,000, the total amount of the Company’s indebtedness (each Assignee to cancel $230,000 under the promissory
note issued to such Assignee) in exchange for the issuance of 69,000 shares (each Assignee to be issued 11,500 shares) of a new series
of the Company’s preferred stock, designated as Series F Convertible Preferred Stock (the “ Series F Preferred Stock”),
pursuant to the terms and subject to conditions set forth in the 2025 Exchange Agreement. The 2025 Exchange Agreement provides that closing
of the transactions contemplated by the 2025 Exchange Agreement (the “ Closing”) will occur upon satisfaction of the following
conditions, including, among other things (i) the Company’s submission of Listing of Additional Shares Notification Form with Nasdaq
Capital Market at least 15 calendar days prior to the issuance of the shares of Series F Preferred Stock; (ii) obtaining the shareholder
approval for the issuance of 20% or more of the Company’s issued and outstanding share capital, as required by Nasdaq Marketplace
Rule 5635; and (iii) filing of the Certificate of Designation of Preferences, Rights and Limitations of Series E Convertible Preferred
Stock (the “ Certificate of Designation of Series F Stock”) with the Registrar of the Corporation under the BCA, establishing
the Series F Preferred Stock.

Series F Shares will feature a stated value of
$20.00 per share and will be convertible to shares of the Company’s Common Stock at the conversion rate of 1 for 100, such as each
Series F Share to be converted into 100 shares of the Company’s Common Stock without payment or any additional consideration by
the holder thereof. Such conversion will be subject to the following schedule: (i) up to 2,000 of the Series F Shares issued to each holder
may be converted by such holder at any time from the date of the issuance; (ii) up to additional 2,500 of the Series F Shares may be converted
by such Holder at any time after 90 days from the date of the issuance; (iii) up to 3,000 of Series F Shares counted on the date of the
issuance may be converted by such Holder after six (6) months from the date of the issuance; and (iv) the remaining