JX Luxventure Issues $3M Promissory Note

JX Luxventure (JXJT) has released an update.

JX Luxventure Limited has issued a promissory note promising to pay $3 million to its Co-Chairman Huidan Li, with terms allowing for flexible demand of payment and potential prepayment. The note, effective from August 23, 2024, lays out specific payment conditions, representations, and legal obligations, ensuring its enforceability under the laws of the Republic of Marshall Islands. While the note does not accrue interest, a late charge is applicable for delayed payments, and the agreement includes clauses for waivers, notices, and governing law.

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