Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
October 19 2022 - 11:01AM
Edgar (US Regulatory)
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 October 2022
Commission
File Number 001-35715
JX
Luxventure Limited
(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 ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached
annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that
the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on EDGAR.
On
October 19, 2022, JX Luxventure Limited (the “Company”) entered into a stock purchase agreement (the “Stock Purchase
Agreement”) with Shenzhen Zhongjiyingfeng Investment Co., Ltd. (the “Purchaser”) and closed the transaction pursuant
to the terms of the Stock Purchase Agreement (the “Sale and Purchase Transaction”), resulting in the Company’s sale
of 20,000 shares of common stock (the “Shares”) in Hongri International Holding Limited (“Hongri”), constituting
all of the issued and outstanding capital stock in Hongri to the Purchaser, in consideration for $10,000,000 (the “Purchase Price”).
Prior to the closing of the Sale and Purchase Transaction (the “Closing”), Hongri was a wholly-owned subsidiary of the Company
through which the Company operated its menswear business.
At
the Closing, the Purchaser issued to the Company a 5% promissory note in the principal amount of $10,000,000, in payment of the Purchase
Price (the “Note”). The Note is payable in four installments, on the following dates and in the following amounts: (a) $1,000,000,
together with an accrued interest, is payable on or before November 19, 2022; (b) $2,000,000, together with an accrued interest, is payable
on or before April 19, 2023; (c) $3,000,000, together with an accrued interest, is payable on or before April 19, 2024, and (d) the remaining
$4,000,000, together with an accrued interest, is payable on or before October 19, 2024.
As
further inducement of the Company to enter into the Stock Purchase Agreement and to sell the Shares to the Purchaser on the terms of
the Stock Purchase Agreement, on the Closing, the Purchaser and the Company entered into and executed a Pledge and Security Agreement
(the “Pledge Agreement”), pursuant to which the Purchaser, as the Borrower under the Note, granted the Company a first priority
security interest in the Shares of Hongri.
The
foregoing descriptions of the Stock Purchase Agreement, the Note and the Pledge Agreement do not purport to be complete and are qualified
in their entirety by reference to the full text of such documents, copies of which are attached to this Current Report on Form 6-K as
Exhibits 10.1, 10.2 and 10.3, respectively, and incorporated herein by reference.
In
connection with the Closing, on October 19, 2022, the Company issued a press release, which is furnished herewith as Exhibit 99.1.
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:
October 19, 2022 |
JX
Luxventure Limited |
|
|
|
|
By: |
/s/
Sun Lei |
|
Sun
Lei
Chief Executive Officer |
|
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