Austin, Texas, August 10th, 2026, FinanceWire
This article has been disseminated on behalf of MAX Power Mining and may include paid advertising.
MAX Power Mining (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced a strategic non-brokered private placement with Eric Sprott for gross proceeds of $10 million. The financing consists of 4 million units priced at $2.50 each, to be subscribed for by 2176423 Ontario Ltd., a corporation beneficially owned by Sprott. Each unit includes one common share and one warrant exercisable at $3.25 for 24 months. Closing is anticipated on or about Aug. 17, 2026, subject to customary conditions, including Canadian Securities Exchange approval.
MAX Power intends to use the net proceeds to further advance its ongoing commercial validation drill program at the Lawson Complex and for general corporate purposes. Following the financing, Sprott is expected to beneficially own or control approximately 19.5% of MAX Power outstanding common shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of all warrants he beneficially owns or controls. Sprott has agreed not to exercise warrants that would increase his holdings above 19.9% unless shareholders approve his creation as a control person at the company Aug. 20 special meeting and all required CSE and regulatory approvals are obtained.
To view the full press release, visit https://ibn.fm/uMdho
About MAX Power
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The Company’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. MAX Power 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. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power’s U.S. subsidiary. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
NOTE TO INVESTORS: The latest news and updates relating to MAXXF are available in the company’s newsroom at https://ibn.fm/MAXXF
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