Mag Magna Corp 8-K

What Happened

• Mag Magna Corp (MGNC) filed an 8-K reporting a change in control effective December 24, 2025. Harpreet Sangha acquired 4,500,000 shares (approximately 77.20% of outstanding common stock) from Wang Gang under a stock purchase agreement and was appointed Sole Director, President, Chief Executive Officer, Treasurer and Secretary. Wang Gang resigned from his officer and director positions on that date.

Key Details

• Control Shares: 4,500,000 shares, representing ~77.20% of 5,829,047 shares outstanding (as of the filing).
• Purchase price: $415,000 total — $240,000 paid in cash at closing; $175,000 paid by a secured promissory note due within 60 days and secured by a pledge of the Control Shares.
• Management change: Harpreet Sangha (age 61) now holds all senior officer and director roles; he has prior leadership experience with public companies (e.g., China Dongsheng International Inc., Barrel Energy Inc.) and a background in capital raising and resource-sector projects.
• Beneficial ownership: All officers and directors as a group (one person) now beneficially own 4,500,000 shares (77.20%).

Why It Matters

• This filing documents a clear change in control and complete turnover of the company’s board and executive officers, which can affect strategy, operations, and capital decisions. Investors should note the new majority owner and sole decision-maker, the modest cash consideration and short-term promissory financing, and the change in corporate leadership. The filing provides no financial results or operational plans—only ownership and management changes—so investors may want to watch for follow-up disclosures about business strategy, financing, or transaction-related developments.