LLL - JX Luxventure approves $5M in share repurchase program signs $30M sales agreement

JX Luxventure (NASDAQ:LLL) board authorized a share repurchase program of up to $5M of its shares during a 12-month period by Sun Ice Lei, CEO. The funds for the repurchases under the program will be personally provided by Sun Ice Lei. In June-mid, Jin Xuan Luxury Tourism, company subsidiary, entered into and executed a Framework Agreement on Strategic Cooperation with Hainan Douxing Cultural Media wherein the latter will sell the former's cross-border merchandise up to $30M on the live-stream E-commerce shows. The agreement with Hainan Douxing is the fourth major cross-border merchandise-related contract signed by its subsidiaries. The company expects four major contracts signed this year will increase the revenue of our cross-border merchandise business segment significantly in 2022.

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JX Luxventure approves $5M in share repurchase program, signs $30M sales agreement