Business
Max Power Mining Closes $25 Million Strategic Investment From Eric Sprott To Accelerate Commercial Evaluation at Lawson
Financing strengthens MAX Power’s ability to aggressively advance drilling as well as modelling and estimation of resource potential at the Lawson Complex,
About this update from Max Power Mining Corp
[{"type":"text","content":"\n \nFinancing strengthens MAX Power’s ability to aggressively advance drilling as well as modelling and estimation of resource potential at the Lawson Complex, seismic expansion along Genesis Trend, and commercialization pathways across the Company’s Saskatchewan Natural Hydrogen portfolio\nGenesis Explained: Its “Salt Barrier” Advantage and Proximity To Demandhttps://www.youtube.com/watch?v=3ytpHdve6S8\nREGINA, Saskatchewan, May 29, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that, further to its May 21, 2026 news release, it has closed its strategic non-brokered private placement (the “Private Placement”) with Mr. Eric Sprott for gross proceeds of $25 million. The Private Placement consisted of 12,500,000 units (“Units”) of the Company at a price of $2.00 per Unit through 2176423 Ontario Ltd., a corporation beneficially owned by Mr. Sprott.\nMr. Ran Narayanasamy, MAX Power CEO, commented: “We thank Eric for his continued strong support of MAX Power and our objective of confirming the world’s first large-scale commercial discovery of Natural Hydrogen. With over $40 million in the treasury, we’re ready to execute an aggressive, disciplined approach at the Lawson Complex and elsewhere across our Saskatchewan holdings to maximize upside potential for shareholders in this unique situation.”\nThe Company intends to use the net proceeds of the Private Placement for: 1) Follow-up drilling at the Lawson Complex; 2) Modelling and estimation of the resource potential and near-term commercial development prospects at Lawson; 3) Further acquisition of 2D and 3D seismic data over prospective areas across MAX Power’s Saskatchewan land package; (4) Drilling of additional targets in Saskatchewan, including near-term well completion at Bracken; 5) Acquisition of additional permitted ground; 6) Continued development of the Company's proprietary AI-empowered Large Earth Model Integration (MAXX LEMI) Platform with potential global application for efficient targeting of Natural Hydrogen deposits; 7) General corporate purposes, including administrative and marketing expenses.\nPrivate Placement Terms\nEach Unit consisted of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each ...