MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed its previously announced private placement, raising approximately C$20.5 million in gross proceeds through the sale of 15,805,624 units at C$1.30 per unit. The financing was led by prominent investor Eric Sprott, with Hampton Securities Limited acting as lead agent and sole bookrunner.
The company stated that the net proceeds will be used to support ongoing evaluation and development of its Lawson Natural Hydrogen discovery in Saskatchewan, including analytical testing, resource modeling, seismic acquisition and additional drilling, alongside general corporate purposes. This funding is crucial as MAX Power advances what it believes to be a scalable natural hydrogen opportunity across its extensive land position.
The 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, plus an additional 5.7 million acres under application, covering prime exploration ground prospective for large-volume accumulations of natural hydrogen.
In addition to its hydrogen projects, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals, highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, which is 100%-owned by MAX Power’s U.S. subsidiary.
The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. For more information, visit the company's newsroom at https://ibn.fm/MAXXF.
This placement underscores strong investor confidence in MAX Power's strategic direction and the potential of natural hydrogen as a clean energy source. The involvement of Eric Sprott, a well-known resource investor, adds further credibility to the company's efforts. The funds will enable MAX Power to accelerate its exploration and development activities, potentially positioning it as a key player in the emerging natural hydrogen sector.
