{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-26-004573","form_type":"8-K","ticker":"MGNC","cik":"0001949864","company_name":"Mag Magna Corp","filed_at":"2026-06-05T10:00:27+00:00","discovered_at":"2026-06-05T10:05:00.215373+00:00","generated_at":"2026-06-05T10:05:25.305910+00:00","sec_items":["1.01","2.03","3.02","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Mag Magna issues $463K in convertible notes to three investors; forms board committees","bullets":["Issued $170K 6% convertible note to CFI Capital on Apr 1; net proceeds $153K after OID.","Issued $170K 6% convertible note to Silvercrest Hybrid on Apr 29; net $153K after OID.","Issued $123.3K 12% convertible note to GW Capital on May 6; net $111K after OID.","Conversion at 60% of lowest traded price over 20 days; default price drops to 45%.","Proceeds used for general working capital; also formed Executive and Audit Committees."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-26-004573","json":"https://secwatch.observer/filing/0001683168-26-004573.json","markdown":"https://secwatch.observer/filing/0001683168-26-004573.md","text":"https://secwatch.observer/filing/0001683168-26-004573.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/0001683168-26-004573-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/magmagna_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T10:05:25.305910+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5928493abccf99d269671d8f97c3f28ca747724d","claim":"Mag Magna Corp incurred convertible notes of $170,000.00 with CFI Capital, LLC at 6% per annum maturing 12 months from issue date.","evidence_excerpt":"Effective April 1, 2026, Mag Magna Corp., a Wyoming corporation (the “Company” ), entered into a Securities Purchase Agreement (the “CFI Capital SPA” ) with CFI Capital, LLC ( “CFI Capital” ), pursuant to which the Company issued to CFI Capital a 6% convertible redeemable note in the principal amount of $170,000.00 (the “CFI Capital Note” ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/0001683168-26-004573-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$170,000.00"},{"label":"Counterparty","value":"CFI Capital, LLC"},{"label":"Rate","value":"6% per annum"},{"label":"Maturity","value":"12 months from issue date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a261f5b96498360ab2c42b4ae59a4c9a8aa505e6","claim":"Mag Magna Corp incurred convertible notes of $170,000.00 with Silvercrest Hybrid Capital LLC at 12% per annum maturing 12 months from issue date.","evidence_excerpt":"Effective April 29, 2026, the Company entered into a Securities Purchase Agreement (the “Silvercrest SPA” ) with Silvercrest Hybrid Capital LLC ( “Silvercrest” ), pursuant to which the Company issued to Silvercrest a 6% convertible redeemable note in the principal amount of $170,000.00 (the “Silvercrest Note” ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/0001683168-26-004573-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$170,000.00"},{"label":"Counterparty","value":"Silvercrest Hybrid Capital LLC"},{"label":"Rate","value":"12% per annum"},{"label":"Maturity","value":"12 months from issue date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"896cde8c3a888f7fb58dcfb907c72eeecc99c41f","claim":"Mag Magna Corp entered into Securities Purchase Agreement with Silvercrest Hybrid Capital with Silvercrest Hybrid Capital LLC valued at $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000 (effective 2026-04-29).","evidence_excerpt":"Effective April 29, 2026, the Company entered into a Securities Purchase Agreement (the \"Silvercrest SPA\" ) with Silvercrest Hybrid Capital LLC ( \"Silvercrest\" ), pursuant to which the Company issued to Silvercrest a 6% convertible redeemable note in the principal amount of $170,000.00 (the \"Silvercrest Note\" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/0001683168-26-004573-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Silvercrest Hybrid Capital LLC"},{"label":"Value","value":"$170,000 principal, 6% convertible redeemable note, cash proceeds $153,000"},{"label":"Effective","value":"2026-04-29"}],"fact_type":"material_agreement"},{"claim_id":"8f9d4bd533aa99f6fb3d5b97e7f5b4d0fc15edab","claim":"Mag Magna Corp entered into Securities Purchase Agreement with CFI Capital with CFI Capital, LLC valued at $170,000 principal, 6% convertible redeemable note, cash proceeds $153,000 (effective 2026-04-01).","evidence_excerpt":"Effective April 1, 2026, Mag Magna Corp., a Wyoming corporation (the \"Company\" ), entered into a Securities Purchase Agreement (the \"CFI Capital SPA\" ) with CFI Capital, LLC ( \"CFI Capital\" ), pursuant to which the Company issued to CFI Capital a 6% convertible redeemable note in the principal amount of $170,000.00 (the \"CFI Capital Note\" ) for cash proceeds of $153,000.00 (reflecting $17,000.00 original issue discount).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1949864/000168316826004573/0001683168-26-004573-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"CFI Capital, LLC"},{"label":"Value","value":"$170,000 principal, 6% convertible redeemable note, cash proceeds $153,000"},{"label":"Effective","value":"2026-04-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}