MGNC · Mag Magna Corp.

Mag Magna Corp. has implemented voluntary lock-up agreements with 11 consultants who collectively hold 8.9 million shares, representing 89% of the 10 million shares issued to consultants under the company's stock incentive plan. These agreements impose a complete restriction on share sales through December 31, 2026, followed by a controlled leak-out period from January 1 through June 30, 2027, during which sales are limited to 100,000 shares per month and 20,000 shares per day. The agreements include an early termination provision that triggers if the company's stock price trades above $5.00 for ten consecutive trading days after the lock-up period ends. Additionally, the company's board retains discretion to reduce, remove, or waive the resale restrictions. The company's CEO stated that these agreements demonstrate the consultants' long-term belief in the company's rare earth element mining strategies and are intended to promote stable, fundamentals-based trading. The company, which engages in rare earth elements mining and acquired its first mining properties in January 2026, views these agreements as beneficial to current and future shareholders.