secwatch.observer — SEC 8-K summary
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Issuer:     Mag Magna Corp (MGNC)
CIK:        0001949864
Form:       8-K
Filed at:   2026-01-27T23:59:59+00:00
Accession:  0001683168-26-000557
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 5.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mag Magna Corp. pivots to rare earth minerals; acquires mineral rights for $10.3M
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- Acquired 21 IL mineral parcels and 3 AZ lode claims for $300K cash + 2M shares at $5/share ($10M value).
- New CEO Jamal Khurshid and CFO Michael Noonan appointed; board expanded from 1 to 3 directors; Sangha becomes Chairman.
- Amended articles to authorize 500M common shares, 1M preferred; issued Series X Preferred to Sangha with super-voting rights.
- Abandons chicken farming; new focus on rare earth exploration with $100K (2026) and $200K (2027) work commitments.
- Seller retains 2% net smelter return royalty on any future production from the properties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1949864/000168316826000557/0001683168-26-000557-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1949864/000168316826000557/magmagna_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-000557

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer