Magnum Goldcorp Inc. Announces Amendment to Amalgamation Agreement with Atlantico Energy Metals and Warrant Amendments

The news release dated January 15, 2026, details an amendment to the definitive amalgamation agreement with Atlantico Energy Metals Corp. Key changes include extending the "outside date" for completion to March 31, 2026, from an earlier unspecified date. Additionally, Magnum is repricing 1,907,500 outstanding warrants (previously at $0.80) down to $0.15 to encourage exercise or clean the capital structure, adding an accelerated expiry clause if the stock trades above $0.1875 for 10 days. The news confirms that Atlantico has successfully closed a concurrent financing for $1,223,522, satisfying a major closing condition.

The impact of this news is neutral. While the successful financing of the target company (Atlantico) is a positive milestone, the extension of the closing date and the downward repricing of warrants signal that the transaction is taking longer than anticipated and requires "sweetening" or restructuring of the capital base to remain viable. - Negative: The extension to March 31, 2026, suggests regulatory or administrative hurdles. The warrant repricing from $0.80 to $0.15 is a significant reduction, reflecting the reality of the current market price and the need to potentially incentivize warrant holders. - Positive: Atlantico’s $1.22M raise provides the necessary capital to fund the resulting issuer's initial exploration at the Novo Cruzeiro lithium project in Brazil. - Execution Risk: The company is moving from a gold shell to a lithium explorer (Change of Business/RTO), which involves high regulatory scrutiny from the TSXV.

Magnum Goldcorp is currently a shell company undergoing a Reverse Takeover (RTO) of Atlantico Energy Metals. - Flagship Project: Novo Cruzeiro Lithium Project. - Location: Northeastern Minas Gerais, Brazil (Eastern Brazilian Pegmatite Belt). - Stage: Early-stage exploration. - Assets: 15 contiguous exploration permits covering ~24,427 hectares. - Geology: Targeting spodumene-rich LCT pegmatites. Note: There is currently no record of modern exploration or known mineralization on the permits.