MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that its disinterested shareholders overwhelmingly approved a resolution to create Eric Sprott as a control person of the company at its Aug. 20, 2026, special meeting. With more than 99.92% of votes cast in favor, the approval grants Sprott greater flexibility to increase his ownership position in the company.
Sprott, a prominent Canadian investor, indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants, representing approximately 19.5% of outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis assuming exercise of the warrants. This significant stake underscores his confidence in MAX Power's future prospects.
The approval is a key milestone for MAX Power, which is focused on innovative mineral and energy exploration aimed at supporting the global shift to decarbonization. The company's flagship project, the Lawson Discovery near Central Butte, Saskatchewan, is Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling, with data validated by three independent labs. This discovery positions MAX Power as a pioneer in the emerging natural hydrogen sector.
MAX Power 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. In addition, the company 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, which is 100%-owned by MAX Power's U.S. subsidiary.
With Sprott's enhanced role, MAX Power is likely to benefit from his extensive experience and capital resources, potentially accelerating the development of its projects. The company remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
For investors, the approval signals a strong vote of confidence from a well-known figure in the mining and investment community. It also provides MAX Power with the financial backing and strategic guidance that could be crucial as it advances its natural hydrogen and critical minerals initiatives.
To view the full press release, visit https://ibn.fm/7P7D5.
For the latest news and updates relating to MAXXF, see the company's newsroom at https://ibn.fm/MAXXF.
