In a decisive vote at a special meeting held on Aug. 20, 2026, shareholders of MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) approved a resolution to designate Eric Sprott as a control person of the company. The proposal received overwhelming support, with more than 99.92% of votes cast in favor, according to a press release distributed by Rocks & Stocks.
This approval grants Sprott greater flexibility to increase his ownership position in MAX Power, a move that signals confidence in the company’s strategic direction. Sprott currently indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. This represents approximately 19.5% of the company’s outstanding shares on a non-diluted basis, and roughly 30.5% on a partially diluted basis assuming exercise of the warrants.
The significance of this development lies in Sprott’s reputation as a prominent investor in the natural resources sector. His increased involvement could attract additional attention and investment to MAX Power, which is positioning itself at the forefront of the transition to decarbonization through its focus on natural hydrogen and critical minerals.
MAX Power’s flagship project is the Lawson Discovery near Central Butte, Saskatchewan, which the company describes as 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 (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen.
In addition to its hydrogen projects, 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 approval of Sprott as a control person is a key milestone for the company, as it may lead to increased financial backing and strategic guidance. Investors and industry observers will be watching closely to see how Sprott’s expanded role influences MAX Power’s future exploration and development efforts.
For more details on this announcement, the full press release is available at https://ibn.fm/7P7D5. For the latest news and updates on MAX Power, visit https://ibn.fm/MAXXF.
