Disclosure pursuant to Regulation 30 (11) of SEBI LODR Regulations and Clarifications on Media Report sought from the Company.
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Awaiting price reaction for this filing.
Midwest Gold has confirmed that a recent news report about its merger with Midwest Energy and a strategic shift toward rare-earth magnets is factually accurate. The company has already made all required disclosures to the stock exchange starting August 2025, including board meeting outcomes, the scheme of amalgamation, postal ballot notice, and shareholder voting results (which approved the merger on January 2, 2026). The amalgamation scheme is currently awaiting approval from the Regional Director – South East Region, Hyderabad. The company also clarified that there is no undisclosed price-sensitive information and that recent share price movement is purely market-driven.
For shareholders, this confirms the Midwest Energy merger is progressing as planned and is in the final regulatory approval stage. Once the Regional Director approves, the company will pivot toward rare-earth magnets, which could reposition its business outlook but also introduces execution risk tied to the new sector.