Max Power Mining Closes $10 Million Strategic Investment From Eric Sprott to Advance Commercial Validation at Lawson

About this update from Max Power Mining Corp

Fresh investment by Eric Sprott into MAX Power follows early success in ongoing commercial validation drill program at Lawson Complex as MAXX aims to confirm the world’s first large-scale commercial discovery of Natural Hydrogen, a potentially transformational new primary energy source Video: The Time is Now https://youtu.be/TKnEnBEQ0TM REGINA, Saskatchewan, Aug. 17, 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 August 10, 2026 news release, it has closed its strategic non-brokered private placement (the “Private Placement”) with Mr. Eric Sprott for gross proceeds of $10 million. The Private Placement consisted of 4,000,000 units (“Units”) of the Company at a price of $2.50 per Unit through 2176423 Ontario Ltd., a corporation beneficially owned by Mr. Sprott. Mr. Ran Narayanasamy, MAX Power CEO, commented: “We are grateful for Eric’s continued confidence in MAX Power and our mission to unlock the commercial potential of Natural Hydrogen. This investment enables us to accelerate our validation drilling at the Lawson Complex, bringing us closer to demonstrating the viability of this transformative energy source.” The Company intends to use the net proceeds of the Private Placement to further advance its ongoing commercial validation drill program at the Lawson Complex and for general corporate purposes, including administrative and marketing expenses. Private Placement Terms Each 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 Warrant entitles Mr. Sprott to purchase one Common Share (each, a “Warrant Share”) at a price of $3.25 per Warrant Share for a period of 24 months from the closing date of the Private Placement. All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Private Placement is subject to the final approval of the Canadian Securities Exchange. Mr. Sprott currently holds more than 10% of the issued and outstanding Common Shares. As a result, his participation in the Private Placement constituted a “related party transaction” within the meaning of Multilateral Ins...

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