MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that its disinterested shareholders overwhelmingly approved a resolution creating Eric Sprott as a control person of the company at its Aug. 20, 2026, special meeting, with more than 99.92% of votes cast in favor. The approval gives Sprott greater flexibility to increase his ownership position in MAX Power, a move that underscores his confidence in the company's strategic direction.
Sprott indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants, representing approximately 19.5% of outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis assuming exercise of the warrants. This significant stake, coupled with the control person designation, positions Sprott to potentially expand his involvement in MAX Power's future endeavors.
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.
In addition to its Natural Hydrogen projects, MAX Power 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. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
The approval of Sprott as a control person is a pivotal development for MAX Power, as it may lead to increased investment and strategic guidance from one of the most prominent investors in the resource sector. This move could accelerate the company's exploration and development efforts, particularly in the emerging Natural Hydrogen space, which has the potential to provide a clean energy source.
Investors and industry observers will be watching closely to see how Sprott's increased influence shapes MAX Power's trajectory. The company's focus on Natural Hydrogen, a relatively untapped resource, positions it at the forefront of a potentially transformative energy sector. With Sprott's backing, MAX Power may be better equipped to advance its projects and capitalize on the growing demand for sustainable energy solutions.
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