MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed a strategic non-brokered private placement with renowned investor Eric Sprott, raising gross proceeds of $10 million. The placement consisted 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.
The funding comes as MAX Power focuses on its Lawson Discovery near Central Butte, Saskatchewan, which 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.
This investment by Eric Sprott, a prominent figure in the mining and resource sector, signals strong confidence in MAX Power's Natural Hydrogen project. Natural hydrogen, also known as white or gold hydrogen, is considered a potentially game-changing clean energy source, as it can be extracted directly from the ground without the energy-intensive processes required for green or blue hydrogen. If commercial validation is successful, it could provide a low-cost, abundant source of clean energy, aligning with global decarbonization efforts.
The implications of this funding are significant for the hydrogen industry and the broader energy transition. Successful development of the Lawson Complex could position Canada as a leader in natural hydrogen exploration and production, potentially attracting further investment and policy support. For investors, Sprott's participation adds credibility to MAX Power's prospects and may encourage additional interest in the company and the sector.
In addition to its hydrogen focus, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals, highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by its U.S. subsidiary. The company remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
For more information on the private placement, see the full press release at https://ibn.fm/vVt2S. For the latest news and updates on MAX Power, visit the company's newsroom at https://ibn.fm/MAXXF.
