MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed a $25 million strategic non-brokered private placement with renowned resource investor Eric Sprott, the company announced. The financing consisted of 12.5 million units priced at $2.00 per unit, with each unit comprising one common share and one warrant exercisable at $2.75 for a period of 24 months. Following the transaction, Sprott beneficially owns approximately 19.0% of the company’s outstanding common shares on a non-diluted basis and 29.6% on a partially diluted basis, subject to an agreement limiting ownership to 19.9% absent required approvals.
The investment significantly strengthens MAX Power’s financial position, increasing its treasury to more than $40 million. The company plans to use the proceeds to advance exploration and development activities focused on natural hydrogen opportunities across Saskatchewan, including follow-up drilling and resource evaluation at the Lawson Complex. Additionally, funds will support drilling, seismic data acquisition, additional land acquisitions, and continued development of its proprietary AI-powered Large Earth Model Integration (MAXX LEMI) platform for natural hydrogen targeting.
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. MAX Power also 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 involvement of Eric Sprott, a well-known resource investor, adds credibility and financial backing to MAX Power’s exploration efforts. Natural hydrogen, often referred to as “white hydrogen,” is gaining attention as a potential low-carbon energy source, and MAX Power’s advances could position it as a key player in this emerging sector. The company’s use of AI technology for targeting further differentiates its approach.
For the full press release, visit https://ibn.fm/hW8Y1. More information about MAX Power is available at the company’s newsroom at https://ibn.fm/MAXXF.
