Max Power closes $5-million private placement

Mr. Ran Narayanasamy reports INTERNATIONAL ENERGY PARTNER INVESTS $5 MILLION IN CANADA'S ENERGY FUTURE Max Power Mining Corp. has closed a non-brokered private placement of units of the company for total gross proceeds of $5-million in the first ever large investment by a Vietnam-based company in Saskatchewan. This historic investment is part of a broader strategic partnership between Max Power and Bitexco aimed at immediately accelerating the potential discovery and commercial development of natural hydrogen in Saskatchewan across Canada's largest permitted land package (1.3 million acres) targeting this new primary clean energy source. Ran Narayanasamy, chief executive officer of Max Power, commented: "We are on the cusp of another clean energy breakthrough in Saskatchewan, and this new Vietnamese partnership, on top of the investment by Eric Sprott this past summer, strategically positions Max Power to achieve its short-term and longer-term objectives. We welcome Big Energy, an affiliate of Bitexco, as a major new shareholder in Max Power under its owner and chairman, Mr. Vu Quang Hoi, a prominent Vietnamese business leader and founder and chairman of Bitexco. Max Power's natural hydrogen project is Big Energy's first investment in Canada." Jim Nickel, Canada's ambassador to Vietnam, commented: "Canada is delighted to see this partnership between Max Power and Bitexco as it reflects the strong spirit of increased collaboration between Canada and Vietnam for the benefit of both countries in terms of trade, investment and other initiatives. In addition, this partnership is driving the emergence of an entirely new sector in Saskatchewan -- natural hydrogen -- which is truly exciting and groundbreaking for Canada as we foster innovation around clean energy and leverage all the opportunities inherent in being an energy superpower." Private placement details Pursuant to the offering, Max Power has issued 16,666,666 units of the company to the Big Energy Joint Stock Company at a price of 30 cents per unit for aggregate gross proceeds of $5-million (refer to Sept. 24, 2025, news release). Each unit of the offering will consist of one common share in the capital of the company and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle Big Energy to acquire one share at an exercise price of 45 cents per share for a period of 24 months from the date of issuance, subject to an acceleration provision. All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The warrants are subject to an accelerated expiry clause. Under the acceleration provision, if the closing price of the company's common shares is 60 cents or higher for 10 consecutive trading days, the exercise period of the warrants may be reduced to 60 days at the company's discretion by issuance of a press release within seven days. If the warrants remain subject to the statutory four-month-and-one-day hold period during this period, the company may, if elected, choose to accelerate the exercise period subsequent to the expiration of such hold period. Any warrants not exercised before the end of this 60-day period will expire and be void. As part of the offering, the company and Big Energy have entered into an investor rights and shareholder agreement. The agreement provides Big Energy with the right to participate in future financings of the company on a pro rata basis, and provides certain board nomination rights, contingent on Big Energy maintaining certain ownership of the outstanding shares of the company. Board appointment Max Power is pleased to announce that, subject to exchange approval, Dr. Phung Khac Hoan, general director of Big Energy, will join the Max Power board of directors. Big Energy's team has vast experience in the energy sector from deep drilling to commercial production with an increasing focus on clean energy, as well as investment opportunities outside of Vietnam. Dr. Phung's leadership, geological insight and production expertise will be invaluable to Max Power as it advances its multiwell drilling program and works toward the commercialization of natural hydrogen. Dr. Phung earned his PhD in petroleum geology from the Hanoi University of Mining and Geology. Use of private placement proceeds and corporate and regulatory approvals The company intends to use the net proceeds of the offering for exploration and drilling of its natural hydrogen properties in Saskatchewan and for working capital and general corporate purposes. The company has received all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including approval of the Canadian Securities Exchange. About Max Power Mining Corp. Max Power is an innovative mineral exploration company focused on North America's shift to decarbonization. The company is a first mover in the rapidly growing natural hydrogen sector where it has built a dominant district-scale land position in Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen. Canada's first ever deep well specifically targeting natural hydrogen has been drilled by Max Power at its Lawson target on the Genesis trend, with analytic and completion test phases tunning concurrently after natural hydrogen and helium were confirmed in multiple horizons. Max Power also 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 southeastern Arizona, 100 per cent owned by Max Power's U.S. subsidiary Homeland Critical Minerals Corp. We seek Safe Harbor.