MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced the closing of a $25 million strategic non-brokered private placement with renowned resource investor Eric Sprott. 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. The company said the financing increases its treasury to more than $40 million as it advances exploration and development activities focused on natural hydrogen opportunities across Saskatchewan, including follow-up drilling and resource evaluation at the Lawson Complex.
MAX Power said proceeds 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. Following the transaction, Mr. 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, assuming exercise of all warrants, subject to an agreement limiting ownership to 19.9% absent required approvals.
To view the full press release, visit https://ibn.fm/hW8Y1.
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 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. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
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