MAX Power Mining closes $10 million investment from Eric Sprott

MAX Power Mining Corp. has closed a $10 million strategic non-brokered private placement with investor Eric Sprott. The placement involved 4 million units priced at $2.50 each, which include one common share and one common share purchase warrant per unit.

The company intends to use the net proceeds to advance its commercial validation drill program at the Lawson Complex in Saskatchewan, Canada. This project aims to confirm the viability of a large-scale natural hydrogen discovery.

Following this investment, Mr. Sprott indirectly owns approximately 19.5% of the company’s common shares on a non-diluted basis, a figure that could rise to 30.5% on a partially diluted basis if his warrants are exercised. A special shareholder meeting is scheduled for August 20, 2026, to consider approving Mr. Sprott as a control person of the company.