MAX Power Announces Strategic $25 Million Investment by Eric Sprott to Accelerate Commercial Advancement of Canada's First-Ever Subsurface Natural Hydrogen System

On May 21, 2026, MAX Power Mining Corp. announced a $25 million non‑brokered private placement with long‑time shareholder Eric Sprott. The investment consists of 12.5 million units at C$2.00 per unit – each unit comprising one common share and one warrant (exercise price $2.75, 24‑month term). Proceeds will be used primarily for follow‑up drilling on the Lawson Natural Hydrogen discovery, acquiring additional seismic data, resource modelling, further target drilling (including well completion at Bracken), and advancing the proprietary AI‑driven “MAXX LEMI” platform. The transaction is expected to close around May 28, 2026, and includes a cap that prevents Sprott from exceeding 19.9% ownership without approval.

This is the largest single‑investor financing in MAX Power’s history, arriving just two months after a $20.5 million brokered raise (also led by Sprott) and while the company is actively transitioning from “system confirmation” to commercial evaluation of the Lawson discovery.

• Progression of the story:
  Since late 2025, MAX Power has moved from identifying its first drill target (Lawson) to completing Canada’s first dedicated Natural Hydrogen well, then confirming a working subsurface system with hydrogen concentrations up to 28.6% and helium up to 8.7%. Positive 3D seismic results defined a 14.2 km² structural closure, and the company engaged GLJ Ltd. for resource modelling. Alongside, it discovered a second play at Bracken and identified over 80 prospect‑like structures along the 475‑km Genesis Trend.
  The most recent news (the Sprott $25 M placement) directly funds the next critical steps: drilling the apex of the structure, completing Bracken, and acquiring high‑resolution seismic – all actions that will underpin a potential maiden resource estimate and commercial pathway.

• Why it’s material:
  The financing is at a premium to the previous raise ($2.00 vs. $1.30 in March) and only marginally below the price at which Sprott bought shares in the open market (average $2.02 on May 13). It significantly extends the cash runway for an aggressive program that could deliver a world‑first large‑scale commercial natural‑hydrogen resource. Eric Sprott’s commitment – he is already the largest shareholder and continues to increase his stake – sends a strong signal of confidence to the market, especially as the placement size is roughly 10 % of estimated market cap.

• Not a “Game Changer” because Sprott is not a new investor; he has been involved since 2025 and has repeatedly raised his position. The investment is a continuation of his support rather than a transformative first‑time entry by a strategic backer. However, the scale and timing elevate it above a routine follow‑on financing.

MAX Power Mining Corp. is a Canadian company focused on the exploration and development of Natural Hydrogen – a potentially primary, low‑carbon energy source. Its flagship asset is the Lawson discovery within the 475‑km Genesis Trend in southern Saskatchewan. The company holds approximately 1.3 million acres (521,000 ha) of permitted land, with an additional 5.7 million acres under application, making it the largest dedicated Natural Hydrogen landholder in Canada.

• Lawson: Confirmed as Canada’s first subsurface Natural Hydrogen system, with free‑flowing gas and concentrations up to 286,000 ppm H₂ (28.6%). A 3D seismic survey delineated a 14.2 km² structural closure with multiple drill targets.
• Bracken (Grasslands Project): Second play type, ~325 km SW of Lawson; multi‑zone hydrogen and helium intervals encountered, with helium grades averaging 4.4% and peaking at 8.7%.
• Additional targets: Over 80 structures of interest identified along the Genesis Trend, including Lucky Lake, Radville, and Lawson Southwest.
• Technology platform: MAXX LEMI – an AI‑assisted Large Earth Model Integration platform that combines seismic, drilling, and legacy data for target generation, with potential global monetization.
• Other assets: The wholly owned U.S. subsidiary Homeland Critical Minerals holds the Willcox Playa Lithium Project in Arizona (near‑surface lithium‑rich clays), with potential for a separate public listing in 2026.