MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed a strategic non-brokered private placement with Eric Sprott, securing gross proceeds of $10 million. The investment consists of 4 million units priced at $2.50 each. The company plans to use the net proceeds to advance its commercial validation drill program at the Lawson Complex and for general corporate purposes.
Following the placement, Sprott indirectly owns and controls approximately 19.5% of MAX Power's common shares on a non-diluted basis, or 30.5% on a partially diluted basis assuming exercise of his warrants. A special shareholder meeting is scheduled for Aug. 20, 2026, to consider approving Sprott as a control person of the company.
This investment underscores the growing interest in Natural Hydrogen as a potential clean energy source. MAX Power's Lawson Discovery near Central Butte, Saskatchewan, represents Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling, with data validated by three independent labs. The company has built dominant district-scale land positions across Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen.
Beyond Natural Hydrogen, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power's U.S. subsidiary. Lithium is essential for batteries and renewable energy storage, positioning the company to benefit from the global transition to decarbonization.
The capital injection from a prominent investor like Eric Sprott provides MAX Power with the financial resources to accelerate its exploration and development activities. This is particularly significant as the world seeks to diversify energy sources and reduce carbon emissions. Natural Hydrogen, if commercially viable, could offer a low-carbon energy alternative, while lithium remains critical for electric vehicle batteries and grid storage.
MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. With the new funding, the company is better positioned to advance its projects and contribute to the clean energy supply chain.
For more information about MAX Power, visit the company's newsroom at https://ibn.fm/MAXXF.
