JX Luxventure Limited (NASDAQ:JXJT) (the "Company"), a company delivering comprehensive products solutions to global high-net-worth families serviced by our business customers with business segments covering tourism, duty-free cross-border merchandise, eCommerce and B2B SAAS solutions, today announced that on October 24, 2022, the Company received the letter (the "Notification Letter") from Nasdaq Stock Market, LLC ("Nasdaq"), notifying the Company that it is not in compliance with the minimum bid price of $1.00 per share for thirty (30) consecutive days, as required by Nasdaq Rules for continued listing (the "Rules"). In accordance with the Rules, the Company has been provided 180 calendar days, or until April 24, 2023, to regain compliance with the Rules. The Notification Letter also provides that if at any time during this 180-day period the closing bid price of the Company's security will be at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide its written confirmation of compliance and this matter will be closed.

If the Company does not regain compliance within the 180-day period, the Company may be eligible for additional time, provided that it meets all listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and shall provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If Nasdaq determines that the Company meets these requirements, it will notify the Company that it will be granted an additional 180-day cure period, but if Nasdaq determines that the Company does not meet these requirements, Nasdaq will notify the Company that its securities will be subject to delisting.

The Notification Letter does not impact the Company's listing on the Nasdaq Capital Market at this time (however, Nasdaq will include the Company on its website in its list of non-compliant Nasdaq companies and the basis of such non-compliance commencing five business days from the date of the Notification Letter). The Company's business operations are also not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its securities on the Nasdaq Capital Market and, if appropriate, consider implementing available options, including a reverse stock split, to regain compliance with the minimum bid price requirement under the Rules.