MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FRANKFURT: 89N) announced that Big Energy, an affiliate of Vietnam-based Bitexco, has exercised 8,333,333 share purchase warrants early, generating $3.75 million in proceeds for the company. Following the exercise, Big Energy now holds 24,999,999 common shares, representing 14.5% of MAX Power’s issued and outstanding shares.
CEO Ran Narayanasamy emphasized that this move aligns Big Energy with MAX Power’s goal of advancing the Lawson Complex toward what the company believes could become the world’s first large-scale commercial natural hydrogen discovery. The funds will support continued exploration and development activities in Saskatchewan, where MAX Power holds approximately 1.3 million acres of permits.
In a separate development, MAX Power has scheduled a special shareholder meeting for Aug. 20, 2026, in Regina, Saskatchewan, to consider a resolution that would permit investor Eric Sprott to become a control person of the company. Sprott currently controls 30,984,979 common shares, representing 17.98% of outstanding shares, and holds warrants that could push his ownership above the threshold requiring shareholder approval under Canadian Securities Exchange rules. The board has recommended shareholders vote in favor of the resolution.
The company’s Lawson Discovery near Central Butte, Saskatchewan, represents Canada’s first subsurface natural hydrogen system confirmed through deep drilling, with data validated by three independent labs. MAX Power also holds a portfolio of properties focused on critical minerals, including the 100%-owned Willcox Playa Lithium Project in Arizona, where a 2024 diamond drilling discovery was made.
For more details, the full press release is available at https://ibn.fm/vXzIe. A video explaining the geological thesis behind the Lawson Complex, including its “Salt Barrier” advantage and proximity to demand, can be viewed at https://ibn.fm/1dJFl.
