JX Energy Ltd. entered into subscription agreement for issuance of 30,000,000 subscription shares at a price of CAD 0.04223 per share for gross proceeds of CAD 1,266,940.80 on November 20, 2023. The transaction included participation from new individual investors Yin Na for 23,500,000 shares and Xiao Lei for 6,500,000 shares. The company incurred issue expenses of CAD 87,982 pursuant to the transaction.

The closing is subject to the satisfaction of the condition?s precedent on or before February 20, 2024, or such other date as may be determined by the company in its sole discretion. The transaction has been approved by the board of directors of the company.