MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed a strategic non-brokered private placement with prominent investor Eric Sprott, securing gross proceeds of $10 million. The placement consisted of 4 million units priced at $2.50 each, and the company plans to use the net proceeds to advance its commercial validation drill program at the Lawson Complex and for general corporate purposes.
Following the placement, Eric Sprott indirectly owns and controls approximately 19.5% of MAX Power’s common shares on a non-diluted basis, or 30.5% on a partially diluted basis assuming the exercise of his warrants. A special shareholder meeting is scheduled for Aug. 20, 2026, to consider approving Sprott as a control person of the company.
This investment comes at a pivotal time for MAX Power as it focuses on the shift to decarbonization. The company’s flagship Lawson Discovery, located 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, holding approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen.
The significance of this funding cannot be overstated. Natural hydrogen, also known as white or gold hydrogen, is generated naturally in the Earth’s crust and offers a potentially carbon-free energy source. The Lawson Complex is one of the most advanced natural hydrogen exploration projects in Canada, and this capital injection will enable MAX Power to carry out the commercial validation drilling necessary to assess the resource’s viability.
In addition to its hydrogen assets, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These include the 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 remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
The participation of Eric Sprott, a well-known and respected mining investor, signals confidence in MAX Power’s potential. Sprott’s investment not only provides immediate capital but also adds credibility to the company’s exploration efforts. The funds will be instrumental in advancing the Lawson Complex to a stage where it can potentially contribute to the growing market for low-carbon energy sources.
As the world seeks alternatives to fossil fuels, natural hydrogen is emerging as a promising clean energy source. MAX Power’s pioneering work in Saskatchewan could position the region as a key player in this nascent industry. The successful closure of this placement marks a significant step forward for the company and the broader natural hydrogen sector.
For more information about MAX Power Mining, please visit the company’s newsroom at https://ibn.fm/MAXXF.
