Max Power Closes $25 Million Strategic Investment From Eric Sprott To Accelerate Commercial Evaluation at Lawson
MAX Power closes Sprott’s $25M war chest, cash pile surpasses $40M to fund first commercial validation of Canada’s natural hydrogen frontier
MAX Power Mining Corp. closed the previously announced non-brokered private placement with Eric Sprott (via 2176423 Ontario Ltd.) on May 29, 2026. Total gross proceeds of $25 million were raised through the issuance of 12,500,000 units at $2.00 per unit. Each unit comprises one common share and one common share purchase warrant with a $2.75 exercise price and a 24‑month term from closing. Following the placement, Mr. Sprott’s ownership rose from about 12.3% to 19.0% (non‑diluted) and to 29.6% on a partially diluted basis. All securities are subject to a four‑month statutory hold period. Proceeds are earmarked for aggressive drilling at the Lawson Complex, seismic expansion across the Saskatchewan natural hydrogen portfolio, AI modelling, and general corporate purposes.
The May 29 closing is the execution of the $25 million financing first announced on May 21, 2026. No new terms, conditions, or surprises were introduced. The market had already absorbed and repriced the stock on the original announcement. Therefore, this closing constitutes a routine follow‑up event. While it confirms the strengthening of the balance sheet and Mr. Sprott’s commitment, it does not constitute new, market‑moving information. The rating remains Routine – Positive, reflecting the fulfillment of a previously disclosed material catalyst.
MAX Power Mining Corp. is a Canadian‑based exploration company spearheading the search for commercial natural hydrogen. Its flagship Lawson Natural Hydrogen Complex in Saskatchewan was Canada’s first confirmed subsurface natural hydrogen system, with gas concentrations up to 28.6% hydrogen and helium values up to 8.7%. The discovery sits on the 475‑km Genesis Trend, a basin‑scale geological corridor that hosts dozens of structural targets. The company holds the largest permitted natural hydrogen land package in Canada (~1.3 million acres, with an additional 5.7 million acres under application). A multi‑well drilling campaign is underway to validate commercial potential, complemented by a proprietary AI‑assisted exploration platform (MAXX LEMI). MAX Power also owns the Willcox Playa Lithium Project in Arizona, which is earmarked for a potential spin‑out. The company is led by CEO Ran Narayanasamy and chaired by Neil McMillan.