JX Luxventure Group Inc. Report: Name Change & Reverse Stock Split Explained

Here are the key points extracted from the financial report (Form 6-K) of JX Luxventure Group Inc.:

1. Company Name and Structure:

• The company, previously known as JX Luxventure Limited, has changed its name to JX Luxventure Group Inc.

2. Stock Split:

• The board of directors approved a reverse stock split of the company's common stock at a ratio of 1-for-4.
• This stock split aims to help maintain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

3. Effective Date:

• The reverse stock split and name change became effective upon filing the amendment on December 27, 2024.
• Trading will commence on January 8, 2025, under the new name and the new ticker symbol "JXG".

4. Shareholder Impact:

• The reverse stock split will not have a dilutive effect on shareholders except for minor adjustments due to fractional shares, which will be rounded up to the nearest whole share.
• Every four shares will convert into one share without changing the total authorized number of shares or the par value.

5. Regulatory Compliance:

• The changes are intended to ensure ongoing compliance with Nasdaq listing rules.

6. Filing Details:

• The document is filed as Exhibit 3.1, which includes the Articles of Amendment.

7. Management Approval:

• The amendments were unanimously approved by the board and by the majority shareholders.

This report outlines significant corporate actions aimed at enhancing the company's market presence and compliance with regulatory standards.