MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) has received $3.75 million in proceeds after Big Energy, an affiliate of Vietnam-based Bitexco, exercised 8,333,333 share purchase warrants early. The exercise increased Big Energy’s ownership to 24,999,999 common shares, representing 14.5% of MAX Power’s issued and outstanding shares, according to a company announcement.
The move signals strong investor confidence in MAX Power’s strategy to develop the Lawson Complex in Saskatchewan, which the company believes could become the world’s first large-scale commercial natural hydrogen discovery. CEO Ran Narayanasamy stated that Big Energy’s action demonstrates alignment with the company’s goal of advancing the project while supporting continued exploration and development activities in Saskatchewan.
In a separate development, MAX Power announced a special shareholder meeting scheduled for Aug. 20, 2026, in Regina, Saskatchewan. Shareholders will 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 stake above the threshold requiring shareholder approval under Canadian Securities Exchange rules. The board has recommended voting in favor of the resolution.
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 of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen. For more details on the geological thesis, readers can view the company’s video ‘Genesis Explained: Its ‘Salt Barrier’ Advantage and Proximity to Demand’.
Beyond hydrogen, MAX Power 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 company is committed to responsible exploration and development practices prioritizing environmental stewardship, community engagement, and strong corporate governance.
The early warrant exercise and upcoming shareholder vote underscore MAX Power’s progress in securing financing and aligning key investors as it advances its natural hydrogen project. The company’s ability to attract significant investment from entities like Bitexco and Eric Sprott highlights the growing interest in natural hydrogen as a potential clean energy source. The full press release is available at this link.
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