MAX Power Closes $20.5 Million Brokered Offering With Eric Sprott as Lead Order

Executive Summary

• MAX Power Mining Corp. closed a private placement of 15,805,624 units for gross proceeds of approximately C$20.55 million.
• Units were priced at C$1.30 each and include one common share plus half of a warrant exercisable at C$1.80 per share for up to 24 months.
• Proceeds will fund further analytical testing, resource modeling, seismic acquisition, additional drilling on the Lawson Natural Hydrogen discovery, and general corporate purposes.

Key Details

• Offering Size & Price: 15,805,624 units sold at C$1.30 per unit → gross proceeds of $20,547,311.20 (≈ C$20.5 M).
• Unit Composition: Each unit = 1 common share + ½ warrant; each full warrant allows purchase of one common share at C$1.80 for up to 24 months after closing.
• Lead Order & Agent: Eric Sprott (lead order); Hampton Securities Limited acted as lead agent and sole bookrunner.
• Commission Paid: Cash commission equal to 6 % of gross proceeds paid to the agent and selling group members.
• Broker Warrants: 948,337 non‑transferable broker warrants issued; each exercisable for one common share at the issue price until 20 Mar 2028.
• Major Purchasers:
• Eric Sprott (through 2176423 Ontario Ltd.) purchased 3,538,461 units for $4,599,999.30.
• Insiders (officers, directors, and related parties) acquired a total of 3,620,010 units (related‑party transaction under MI 61‑101).
• Use of Proceeds:
  1. Ongoing analytical testing, resource modelling, and estimation of the Lawson Natural Hydrogen discovery; confirmatory well drilling.
  2. Acquisition of 2D/3D seismic data across Saskatchewan land package.
  3. Drilling additional wells.
  4. General corporate purposes (administrative, marketing, etc.).
• Regulatory Exemption: Units offered under the Listed Issuer Financing Exemption (NI 45‑106) in Canada (except Quebec) and qualifying U.S. jurisdictions; no statutory hold period applies.

Notable Quotes

“This is the largest raise in MAX Power history, occurring in the immediate aftermath of the Lawson Discovery as Canada’s first confirmed Natural Hydrogen subsurface system… We thank Eric Sprott for his continued great support of a project that we believe has nation‑building scope…” – Ran Narayanasamy, CEO

All boilerplate, forward‑looking statements, and contact information have been omitted for brevity.