MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has announced that its disinterested shareholders overwhelmingly approved a resolution to designate Eric Sprott as a control person of the company. The vote took place at a special meeting held on August 20, 2026, with more than 99.92% of votes cast in favor. This approval grants Sprott greater flexibility to increase his ownership position in MAX Power, a move that could have significant implications for the company's future direction and capital structure.
Eric Sprott, a prominent Canadian investor known for his focus on natural resources, indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. These holdings represent approximately 19.5% of MAX Power's outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. The approval as a control person removes previous ownership caps, potentially allowing Sprott to expand his stake further, which may signal strong confidence in the company's prospects.
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's flagship asset is the 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 a dominant district-scale land position 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 to its natural hydrogen assets, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These are 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. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
The approval of Eric Sprott as a control person could have several implications. First, it may attract additional investor attention and credibility, given Sprott's reputation in the mining and resource sector. Second, the potential for Sprott to increase his ownership could lead to greater financial backing for the company's exploration and development activities. Third, this move might signal that the company is positioning for significant advancement in its projects, particularly the natural hydrogen and lithium initiatives.
For more details, the full press release is available at https://ibn.fm/7P7D5. The latest news and updates relating to MAXXF can be found in the company's newsroom at https://ibn.fm/MAXXF.
