MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced the closing of its previously announced private placement, raising approximately C$20.5 million in gross proceeds through the sale of 15,805,624 units at C$1.30 per unit. The financing was led by prominent investor Eric Sprott, with Hampton Securities Limited acting as lead agent and sole bookrunner.
The company said proceeds will support ongoing evaluation and development of its Lawson Natural Hydrogen discovery in Saskatchewan, including analytical testing, resource modeling, seismic acquisition and additional drilling, alongside general corporate purposes. MAX Power is advancing what management believes to be a scalable natural hydrogen opportunity across its extensive land position.
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company'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. MAX Power has built dominant district-scale land positions across Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits, plus an additional 5.7 million acres under application, covering prime exploration ground prospective for large-volume accumulations of natural hydrogen.
MAX Power also 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. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
For more information, visit the company's newsroom at https://ibn.fm/MAXXF.
