Max Power Mining closes $2-million LIFE offering

Executive Summary

• Max Power Mining Corp. has closed a LIFE (Listed Issuer Financing Exemption) offering, raising $2 million in gross proceeds at $0.20 per unit.
• This closing completes a total financing package of $4.45 million, which includes a previously announced $2.45 million non-brokered private placement led by Eric Sprott.
• The funds are designated for the exploration of the company's natural hydrogen properties in Saskatchewan and general working capital.

Key Details

• Total Gross Proceeds: $4.45 million ($2.45 million from prior non-brokered private placement + $2.0 million from current LIFE offering).
• LIFE Offering Price: $0.20 per unit.
• Units Issued: 10 million units.
• Warrant Terms (Investors): Each unit includes one share purchase warrant. Warrants allow acquisition of one additional share at $0.25 per share. Exercise period begins 61 days after closing and expires 24 months after closing.
• Finder Fees: $10,500 paid in cash.
• Finder Warrants: 35,000 warrants issued to finders. These are non-transferable, allow purchase of one warrant share at $0.25 per share, and are valid for two years following closing.
• Use of Proceeds: Exploration of natural hydrogen properties in Saskatchewan and general working capital.
• Strategic Investors: Eric Sprott is the lead investor in the prior tranche; the current tranche includes strategic new investors, management, and directors.
• Regulatory Status: The offering involved insider participation (related party transaction) under Multilateral Instrument 61-101. The company relies on exemptions from formal valuation and minority shareholder approval requirements, as insider participation does not exceed 25% of the company's market capitalization.

Notable Quotes

• Mansoor Jan, CEO: "In total, we have raised gross proceeds of $4.45-million, our largest financing ever... Our goal is to make Max Power the world's leading natural-hydrogen-focused company and our foundation is a powerful team of geoscientists, engineers, and market and business leaders leveraging the largest permitted land package for natural hydrogen exploration and development in Canada..."
• Mansoor Jan, CEO: "As previously announced, we are extremely pleased to have Eric Sprott as a major new shareholder of Max Power as we embark on this exciting new phase in the company's young history."