Magellan Copper and Gold Inc.

01/09/2026 | Press release | Distributed by Public on 01/09/2026 11:58

Change in Certifying Accountants (Form 8-K)

ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

On January 6, 2026, the Company dismissed Malone Bailey, LLP ("Malone Bailey") as its independent registered accounting firm. On January 6, 2026, the Company engaged M&K CPAs, PLLC ("M&K") as its new independent registered accounting firm.

The decision to dismiss Malone Bailey was approved by the Company's Board of Directors.

Since Malone Bailey's appointment as the Company's independent registered accounting firm in 2011 and through January 6, 2026, there were (i) no disagreements between the Company and Malone Bailey on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Malone Bailey, would have caused Malone Bailey to make reference thereto in their reports on the Company's financial statements; and (ii) no "reportable events", as that term is defined in Item 304(a)(1)(v) of Regulation S-K.

Malone Bailey issued audit reports on the Company's financial statements as of and for the years ended December 31, 2010 through December 31, 2024. The financial statements as of and for the years ending December 31, 2010 through 2024 included an explanatory paragraph concerning the Company's ability to continue as a going concern.

The Company provided Malone Bailey with a copy of this Form 8-K and requested that Malone Bailey furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not Malone Bailey agrees with the above statements. The letter from Malone Bailey is filed as an exhibit to this report.

During the two years ended December 31, 2024, and the subsequent interim period through January 6, 2026, the Company has not consulted with M&K regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company that M&J concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

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