Mag Magna Corp. (OTCID: MGNC) issued a statement on March 25, 2026 that a press release titled “MGNC Announces Strategic Acquisition of Large‑Scale Poultry Farming Enterprise to Accelerate Commercial Expansion and Revenue Growth” was not authorized by the company and was fraudulent.
The fraudulent release could have led investors to believe the company was pivoting from its core rare‑earth mineral exploration business to a poultry‑farming venture. MGNC’s statement confirms that its current strategic focus remains on rare‑earth exploration and that the poultry‑farming announcement was issued without the company’s consent.
MGNC had previously abandoned poultry‑related operations effective December 24, 2025, following a change‑in‑control event. The company had been involved in poultry‑farming consultancy services, antibiotic‑free feed additives, and a smart poultry technology platform, but it has since exited that line of business. In January 2026, MGNC acquired its first rare‑earth mining properties and is pursuing development of additional undeveloped sites.
By publicly refuting the fraudulent claim, MGNC protects its shareholders from misinformation and reaffirms its commitment to the rare‑earth sector. The statement does not introduce any new financial commitments or operational changes, and no market reaction data is available.
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