Midwest Gold Ltd — Important, 13-03-2026: Company Update

Midwest Gold Limited announced a revision to its proposed preferential issue of equity shares, which will be considered at an upcoming Extra Ordinary General Meeting. The company's Board approved reallocating 28,500 shares: Nikhil Sunkara will now receive all these shares, replacing previous allocations to Naveen Kumar Jain, Kantamani Hemalatha, and Boddu Bala Bhaskar. The EOGM seeks shareholder approval to issue up to 10 Lakh equity shares at Rs. 2,000 each, raising Rs. 200 Crore. These funds are earmarked for repaying director loans (Rs. 80 Crore), establishing a Rare Earth Magnet manufacturing facility (Rs. 110 Crore), and general corporate needs (Rs. 10 Crore). The Board supports this resolution.