secwatch.observer — SEC 8-K summary
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Issuer:     Mag Magna Corp (MGNC)
CIK:        0001949864
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001683168-26-002547
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mag Magna Corp. consultants lock up 89% of 10M S-8 shares through 2026
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- 11 consultants agreed to lock up 8,900,000 shares (89% of 10M S-8 shares) until Dec 31, 2026.
- Leak-out period Jan–June 2027: max 100,000 shares/month, 20,000 shares/day.
- Early termination if stock closes above $5.00 for 10 consecutive days after lock-up period.
- Company may waive restrictions; shares remain free-trading but voluntarily restricted.
- CEO Jamal Khurshid cites the agreements as proof of long-term belief in rare earth mining strategy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1949864/000168316826002547/0001683168-26-002547-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1949864/000168316826002547/magmagna_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-002547

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