JX Luxventure Group Inc 6-K, filed Mar 10, 2026
JX Luxventure Group Inc. (JXG)
About this 6-K
JX Luxventure Group Inc filed this 6-K on March 10, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Commission File Number 001-35715
JX Luxventure Group Inc.
(Translation of registrant’s name into English)
Bin Hai Da Dao No. 270
Lang Qin Wan Guo Ji Du Jia Cun Zong He Lou
Xiu Ying District
Haikou City, Hainan Province 570100
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
On March 6, 2026, JX Luxventure Group Inc., a corporation duly organized under the laws of the Republic of Marshall Islands (the “Company”), entered into a debt exchange agreement (the “Debt Exchange Agreement”) with Huidan Li, the Co-Chairman of the board of directors of the Company (the “Holder”). Pursuant to the Debt Exchange Agreement, at the closing, the Company agreed to issue to the Holder an aggregate of 650,307 shares (the “Exchange Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), in exchange for cancellation by the Holder $2,120,000, representing the principal amount of that certain promissory note, issued by the Company to the Holder on April 21, 2025 (the “Note”), which remains due and outstanding by the Company as of the date of this Debt Exchange Agreement.
The closing of the Debt Exchange Agreement will occur upon satisfaction of certain conditions, including, among other things, the submission of the Listing of Additional Shares pursuant to the listing rules of the Nasdaq Capital Market (“Nasdaq”) at least 15 calendar days before the issuance of the Exchange Shares. The terms of the Debt Exchange Agreement and the Exchange Shares, to be issued at a discounted price of $3.23 per share (representing a 20% discount based on $4.07 price per share as reported on the Nasdaq Capital Market on March 6, 2026) were approved by the board of directors of the Company and the holders of a majority of capital stock of the Company, as being fair and in the best interests of the Company and its shareholders.
The Company intends to issue the Exchange Shares in reliance upon exemption from registration under Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation S promulgated by the Securities and Exchange Commission thereunder, as a transaction by an issuer not involving public offering.
The foregoing description of the Debt Exchange Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Debt Exchange Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
EXHIBIT LIST
| Exhibit No. | Description | |
| 10.1 | Debt Exchange Agreement between the Company and Huidan Li, dated March 6, 2026 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: March 9, 2026 | JX Luxventure Group Inc. | |
| By: | /s/ Sun Lei | |
| Sun Lei | ||
| Chief Executive Officer | ||
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Exhibit 10.1
DEBT EXCHANGE AGREEMENT
This Debt Exchange Agreement (this “Agreement”) is entered on March 6, 2026 by and between JX Luxventure Group Inc, a corporation organized under the laws of the Marshall Islands (the “Company”), and Huidan Li, the Co-Chairman of the board of directors of the Company (the “Holder”). The Company and the Holder are sometimes individually referred to herein as a “Party” or collectively, as the “Parties.”
WHEREAS, on April 21, 2025, the Company issued to the Holder a negotiable, transferrable, without an interest, due on demand, promissory note (the “Note”), in the principal amount of $2,120,000 (the “Principal Amount”), which remains due and outstanding by the Company as of the date of this Agreement; and
WHEREAS, the Holder and the Company desire to enter into the debt exchange agreement, pursuant to which the Company desires to issue to the Holder an aggregate of 650,307 shares (the “Exchange Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at the conversion price of $3.23 per share, representing a 20% discount (based on the $4.07 price per share reported on the Nasdaq Capital Market on the date of this Agreement), in exchange for the Holder’s cancellation of the Principal Amount of the Note and the Note itself, on the terms and conditions provided for in this Agreement.
NOW THEREFORE, in consideration of the foregoing recitals and the mutual covenants and representations contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
1. The Debt Exchange.
(a) Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) will be held at the office of the Company or as to be agreed by the Parties and will occur upon satisfaction of all of the following conditions:
(i) the submission of the Listing of Additional Shares Notification Form (the “LAS”) by the Company pursuant to the listing rules of the Nasdaq Capital Market (“Nasdaq”) at least 15 calendar days prior to the issuance of the Exchange Shares, provided that the Company does not receive any comments from Nasdaq, or if the Company receives any comments from Nasdaq, upon clearance of such comments;
(ii) approval of the issuance of the Exchange Shares in exchange for the cancellation of the Principal Amount of the Note and the Note itself by the Holder (the “Debt Exchange”) by all members of the board of directors of the Company and by holders of a majority of the common stock of the Company;
(iii) the delivery of a duly executed copy of this Agreement by the Parties; and
(iv) filing of a current report on Form 6-K by the Company with the Securities and Exchange Commission (the “SEC”) promptly after the execution of this Agreement, disclosing the terms of the Debt Exchange.
(b) Delivery of the Exchange Shares. At the Closing, the Company shall instruct its transfer agent to issue the Exchange Shares to the Holder on the books of the Company and to the reflect such issuance on the Holder’s account statement. The Exchange Shares, when issued, shall be deemed to be duly and validly issued, fully paid and non-assessable, the Principal Amount will be paid by the Company, and the Note will be cancelled.
(c) Section 3(a)(9) Transaction. It is the intent of the Parties that the Debt Exchange be effectuated pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 3(a)(9) and/or regulation S promulgated thereunder.
2. Representations and Warranties of the Company. As of the date of this Agreement and on the date of the Closing, the Company hereby represents and warrants to the Holder, that:
(a) Organization; Corporate Power. The Company is duly organized, validly existing and in good standing under the laws of the Marshall Islands. The Company has all requisite legal and corporate power and authority to execute and deliver this Agreement and the other agreements contemplated hereby, to effectuate the Debt Exchange, and to issue the Exchange Shares and to carry out and perform its obligations under the terms of this Agreement.
(b) Authorization. All corporate actions on the part of the Company and its officers, directors and stockholders necessary for the (i) authorization, execution, delivery and performance of this Agreement, (ii) authorization, issuance and delivery of the Exchange Shares and (iii) performance of all of the Company’s obligations hereunder have been taken or will be taken upon the execution of this Agreement. This Agreement has been duly executed by the Company and constitutes the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to the laws of general application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies.
(c) Capitalization. As of the date of this Agreement, the authorized capital stock of the Company consists of One Hundred Fifty Million (150,000,000) shares of Common Stock, out of which 4,516,524 shares of Common Stock are issued and outstanding; and Five Million (5,000,000) shares of preferred stock with a par value of US $0.0001, out of which 1,240,000 shares of Series A Convertible Preferred Stock; 150,000 shares of Series C Convertible Preferred Stock; 80,000 shares of Series D Convertible Preferred Stock; and 24,000 shares of Series F Convertible Preferred Stock are issued and outstanding. Except as stated in this Agreement or set forth in the Company’s reports, schedules, forms, statements and other documents filed by the Company with the SEC, no other shares of capital stock or other voting securities of the Company were issued, reserved for issuance or outstanding. All outstanding shares of the capital stock of the Company are, and all such shares that may be issued prior to the date hereof will be, when issued, duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the laws of the Marshall Islands, the Company’s Amended and Restated Articles of Incorporation, the Company’s bylaws or any contract to which the Company is a party or otherwise bound.
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(d) No Conflicts. The execution, delivery and performance by the Company of this Agreement and the documents to be delivered hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the Amended and Restated Articles of Incorporation or bylaws of the Company; (b) violate or conflict with any judgment, order, decree, statute, law, ordinance, rule or regulation applicable to the Company; (c) conflict with, or result in (with or without notice or lapse of time or both) any violation of, or default under, or give rise to a right of termination, acceleration or modification of any obligation or loss of any benefit under any agreement or other instrument to which the Company is a party.
(e) No Consent. No consent of, or registration, declaration or filing with, or permit from, any governmental entity is required to be obtained or made by or with respect to the Company in connection with the execution, delivery and performance of this Agreement or the issuance of the Exchange Shares, other than the (a) filing with the SEC of a report on Form 6-K disclosing the transactions contemplated hereby, including all required exhibits thereto; and (b) the submission of the LAS with Nasdaq.
(f) Valid Issuance. The Exchange Shares have been duly authorized and, when issued, sold and delivered in compliance with the provisions of this Agreement, will be duly and validly issued, fully paid and nonassessable. The Exchange Shares will be free and clear of all liens, security interests, pledges, equities and claims of any kind, voting trusts, shareholder agreements and other encumbrances; provided, however, that the Exchange Shares shall be subject to restrictions on transfer under state and federal securities laws. None of the Exchange Shares will be subject to any preemptive rights or rights of first refusal.
(g) Exemption. It is the intention of the Company that the Exchange Shares be made pursuant to an exemption from the registration requirements of the Securities Act pursuant to Section 3(a)(9) thereunder.
3. Representations and Warranties of the Holder. As of the date of this Agreement and on the date of the Closing, the Holder hereby represents and warrants to the Company that the following representations and warranties are true and complete:
(a) Authorization and Power. The Holder is the Co-Chairman of the board of directors of the Company, and therefore is an affiliate of the Company, as this term is defined in Rule 405 of the Securities Act. The Holder has all power and authority to execute and deliver this Agreement, to exchange the Principal Amount under the Note, to acquire the Exchange Shares, and carry out and perform her obligations under the terms of this Agreement and the transactions contemplated hereby. All actions on the part of the Holder necessary for the authorization, execution, delivery and performance of this Agreement, the conversion of the Principal Amount under the Note into the Exchange Shares have been taken or will be taken prior to the date of this Agreement. This Agreement has been duly executed by the Holder and constitutes the valid and legally binding obligation of the Holder, enforceable against the Holder in accordance with its terms, subject to the laws of general application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies.
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(b) Ownership of the Outstanding Debt. The Holder is the beneficial and record owner of the Note. The Holder has not assigned or otherwise transferred or granted the Note or the Principal Amount under the Note to any person.
(c) For Holder’s Account. The Holder represents and confirms that the Holder will acquire the Exchange Shares upon the Debt Exchange for the Holder’s own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof.
(d) Accredited Investor and Investment Experience. The Holder is an accredited investor, as such term is defined in Regulation D promulgated under the Securities Act. The Holder represents that he has sufficient knowledge and experience in financial and business matters, is capable of evaluating the merits and risks of the investment in the Exchange Shares in exchange for the cancellation of the Principal Amount under the Note and the Note itself, and can bear the economic risk of such investment.
(e) No Consents. The Holder is not required to obtain any order, consent, approval or authorization of any person or entity in connection with the execution and delivery of this Agreement or the Exchange.
(f) Restricted Securities; Compliance with Securities Act. The Holder understands and agrees that the Exchange Shares have not been registered under the Securities Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require registration under the Securities Act (based in part on the accuracy of the representations and warranties of Holder contained herein), and that the Holder will not sell, offer to sell, assign, pledge, hypothecate or otherwise transfer any of the Exchange Shares unless pursuant to an effective registration statement under the Securities Act, or unless an exemption from registration is available. The Holder acknowledges that the Exchange Shares must be held indefinitely unless a subsequent disposition is registered under the Securities Act or any applicable state securities laws or is exempt from such registration.
(g) Shares Legend. The Exchange Shares shall bear the following or similar legend:
“THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.”
(h) No Governmental Review. The Holder understands that no United States federal or state agency or any other governmental or state agency has passed on or made recommendations or endorsement of the Exchange or the Exchange Shares or the suitability of the Exchange nor have such authorities passed upon or endorsed the merits of the Exchange.
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4. Miscellaneous.
(a) Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the Parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement.
(b) Governing Law. This Agreement is to be construed in accordance with and governed by the internal laws of the State of New York without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of New York.
(c) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same instrument. Signatures received by pdf or email shall be deemed to be original signatures.
(d) Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.
(e) Notices. Except as may be otherwise provided herein, all notices, requests, waivers and other communications made pursuant to this Agreement shall be in writing and shall be conclusively deemed to have been duly given (a) if delivered personally, when received, (b) if transmitted by facsimile or email, on the date of transmission with receipt of a transmittal confirmation or (c) if by courier service, on the second (2nd) business day following the date of deposit with such courier service, or such earlier delivery date as may be confirmed in writing to the sender by such courier service. A party may change or supplement the addresses, or designate additional addresses, for purposes of this Section by giving the other party written notice of the new address in the manner set forth above.
(f) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.
(g) Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement among the Parties with respect to the subject matter hereof and no party shall be liable or bound to any other party in any manner by any warranties, representations or covenants except as specifically set forth herein or therein.
[Signature Page Follows]
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IN WITNESS WHEREOF, the undersigned, being the duly authorized representatives of the Parties, have executed this Debt Exchange Agreement as of the date set forth above.
| JX Luxventure Group Inc. | ||
| By: | /s/ Sun Lei | |
| Name: | Sun Lei | |
| Title: | Chief Executive Officer | |
| HOLDER: | ||
| /s/ Huidan Li | ||
| Huidan Li | ||
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