JX Luxventure Announces US$5,000,000 Shares Repurchase Program and Signs US$30,000,000 Sales Agreement

HAIKOU, China, June 22, 2022 /PRNewswire/ -- JX Luxventure Limited (Nasdaq:LLL) (the "Company"), a company delivering comprehensive products solutions to global high-net-worth families serviced by our business customers with business segments covering menswear, cross-border merchandise and tourism, announced today that on June 20, 2022, the Company's Board of Directors (the "Board") has authorized a share repurchase program of up to US$5,000,000 of the Company's common stock from time to time during a 12-month period by Sun "Ice" Lei, Chief Executive Officer of Company (the "Share Repurchase Program").  The Board has determined that the Share Repurchase Program is in the best interest of the Company's shareholders based on their analysis that the current market capitalization of the Company is significantly lower than its intrinsic value and that this Share Repurchase Program will install shareholder confidence in the Company.  The funds for the repurchases under the Share Repurchase Program will be personally provided by Sun "Ice" Lei.  The Board will be periodically reviewing the Share Repurchase Program and may authorize adjustment of its terms and size.