Alpayana closes on strategic investment in Magna Mining for C$140M

On August 31, 2026, Alpayana S.A.C. ("Alpayana") completed its purchase of 62,356,682 common shares of Magna Mining Inc. ("Magna") at a price of C$2.25 per common share for aggregate gross proceeds of approximately C$140,000,000 (the "Offering"), under Magna's non-brokered strategic private placement financing previously announced on July 6, 2026. As of the closing time on the date hereof, Alpayana holds 19.9% of the issued and outstanding common shares of Magna. The net proceeds of the Offering will be used to fund advancement of Magna's development activities at its mineral projects located in the Sudbury region of Ontario, Canada, as well as for general corporate and working capital purposes.

McCarthy Tétrault assisted Alpayana with a team led by Eva Bellissimo that included Samantha Pettinato and Vivienne Zhang (Business).