JX Luxventure Ltd. Announces Conversion of Preferred Shares as Part of Debt Repayment Agreement

Reuters
05-31
JX Luxventure Ltd. Announces Conversion of Preferred Shares as Part of Debt Repayment Agreement

JX Luxventure Ltd., a corporation organized under the laws of the Republic of Marshall Islands, has announced a significant financial development involving the conversion of its promissory notes into preferred shares. On April 22, 2025, the company entered into a debt exchange agreement with holders of promissory notes worth a total of $1,380,000. In accordance with the agreement, these notes were exchanged for 69,000 shares of the newly designated Series F Convertible Preferred Stock. Each holder received 11,550 shares of this preferred stock in cancellation of their outstanding debt. The Series F Stock, which has a stated value of $20.00 per share, can be converted into common stock of the company at a conversion rate of 1 for 100, subject to a specified conversion schedule. This strategic move is part of JX Luxventure's ongoing efforts to manage its financial obligations effectively.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. JX Luxventure Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-049490), on May 30, 2025, and is solely responsible for the information contained therein.

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