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JX Luxventure Group Inc. 6-K Report: $3.5M Note Issued to Co-Chairman Huidan Li

$JXJT
Form 6-K
Filed on: 2025-02-18
Source
JX Luxventure Group Inc. 6-K Report: $3.5M Note Issued to Co-Chairman Huidan Li

Here are the key insights from the provided section of the financial report:

  1. Issuer Information: The report is filed by JX Luxventure Group Inc., a corporation organized under the laws of the Republic of Marshall Islands.
  2. Report Type: It is a Form 6-K, which is commonly used by foreign private issuers to disclose information that is required to be made public in their home country.
  3. Date of Issuance: The report discusses a transaction that occurred on February 17, 2025.
  4. Transaction Details:
  • The company issued a negotiable promissory note (the "Note") to Huidan Li, the Co-Chairman of the Company's board of directors.
  • The principal amount of the Note is $3,500,000.
  • The Note is non-interest bearing and due on demand.
  • This Note represents continuous advances of funds made by Huidan Li to the Company over a period of more than three years.
  1. Regulatory Exemption: The issuance of the Note was exempt from registration under Section 4(a)(2) of the Securities Act of 1933, indicating that it was a private offering not involving public solicitation.
  2. Exhibit Reference: The full text of the Note is included as Exhibit 4.1 of the report, providing additional details about the terms of the Note.
  3. Signature and Authority: The report is signed by Sun Lei, the Chief Executive Officer of JX Luxventure Group Inc., on February 18, 2025, confirming the company's authorization of the report.

Overall, this financial report primarily details a significant financial transaction involving a promissory note from a key executive, indicating continued financial support and funding from that executive to the company. The exemption from registration suggests a strategic financial maneuver to manage liquidity without needing broader market engagement.