Eric Sprott Announces Changes to His Holdings in Max Power Mining Corp

Eric Sprott, through 2176423 Ontario Ltd., acquired 1,000,000 common shares of Max Power Mining Corp. on the open market at an average price of $2.0219, for a total investment of roughly $2.02 million. Following the purchase, his non-diluted stake rises from approximately 12.1% to 12.8%. Combined with his existing warrants, his partially diluted ownership moves to 19.5%. The trade was disclosed on May 13, 2026, at a time when the stock had already surged to C$2.40, marking a twelvefold gain from its 52-week low.

While new buying by a high-profile resource investor typically signals confidence, this is an incremental increase by an existing cornerstone shareholder rather than a first-time strategic entry. Sprott had already anchored the $20.5 million financing closed in March 2026 at C$1.30 per unit and has been adding since. The purchase at more than double that financing price is psychologically positive, but does not alter the company’s fundamental exploration risk or development timeline. No new project milestone, resource estimate, or commercial agreement accompanies the update. Therefore the news is incremental and fits squarely into “Routine – Positive” territory.

Max Power Mining Corp. is a Canadian exploration company pivoted entirely to natural hydrogen (also known as geologic or white hydrogen). Its flagship is the Lawson Natural Hydrogen Discovery on the 475‑km Genesis Trend in southern Saskatchewan. The company holds approximately 1.3 million acres of permitted land, with a further 5.7 million acres under application—giving it the largest natural hydrogen land package in Canada. The Lawson well, drilled in November 2025, was Canada’s first dedicated natural hydrogen test; it encountered free-flowing gas with hydrogen concentrations up to 28.6% and helium up to 8.7%. The company is advancing a commercial evaluation with GLJ Ltd., planning a confirmatory well at the apex of the Lawson structure, and has a second well (Bracken) that confirmed multi-zone hydrogen and helium. Max Power also owns the Willcox Playa Lithium Project in Arizona via its U.S. subsidiary Homeland Critical Minerals, with a spin‑out or strategic transaction under consideration. The Calgary‑based company is led by CEO Ran Narayanasamy (formerly of PTRC) and Chairman Neil McMillan (ex‑Cameco Chair), with a technical team built around Chief Geoscientist Steve Halabura.