Business
Hampton Securities Limited Announces Closing of $20.5 Million Brokered LIFE Offering for Max Power Mining Corp
Toronto, Ontario--(Newsfile Corp. - March 25, 2026) - Hampton Securities Limited (" Hampton ") ac...
About this update from Hampton Financial Corp.
[{"type":"text","content":"Hampton Securities Limited Announces Closing of $20.5 Million Brokered LIFE Offering for Max Power Mining CorpToronto, Ontario--(Newsfile Corp. - March 25, 2026) - Hampton Securities Limited (\"Hampton\") acting as sole agent and bookrunner, is pleased to announce the successful closing of a best efforts private placement of 15,805,624 Units (the \"Units\") at a price of $1.30 per Unit (the \"Offering Price\") of Max Power Mining Corp. (CSE: MAXX) (the \"Company\"), for aggregate gross proceeds of $20,547,311 including partial exercise of the over-allotment option, with Eric Sprott as the lead order (the \"Offering\").Mr. Ran Narayanasamy, MAX Power CEO, commented: \"This is the largest raise in MAX Power history, occurring in the immediate aftermath of the Lawson Discovery as Canada's first confirmed Natural Hydrogen subsurface system on the 475-km-long Genesis Trend. We thank Eric Sprott for his continued great support of a project that we believe has nation-building scope through repeatability and scalability across the country's largest permitted land package for Natural Hydrogen exploration and development.\"Pursuant to the terms of the Offering, each Unit consists of one common share of the Company (\"Common Share\") and one-half of one Common Share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of C$1.80 per share at any time up to 24 months from the closing of the Offering.The net proceeds of the Offering will be used for: 1) An ongoing program of analytical testing, resource modeling, and resource estimation of the Lawson Natural Hydrogen Discovery on the Genesis Trend near Central Butte, Saskatchewan, followed by a confirmatory well to validate potential commerciality; 2) Further acquisition of 2D and 3D seismic data covering various targets throughout MAX Power's Saskatchewan land package; 3) Drilling of additional wells; and 4) General corporate purposes including administrative and marketing.In connection with the Offering, the Company paid a cash commission equal to 6% of the gross proceeds of the Offering to Hampton and selling group members and issued 948,337 non-transferable broker warrants (each, a \"Broker Warrant\"), Each Broker Warrant is exercisable to acquire one Common Share at the Issue Price unti...