MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed its previously announced private placement, raising approximately C$20.5 million in gross proceeds through the sale of 15,805,624 units at C$1.30 per unit. The financing was led by prominent investor Eric Sprott, with Hampton Securities Limited acting as lead agent and sole bookrunner.
The company stated that proceeds will support ongoing evaluation and development of its Lawson Natural Hydrogen discovery in Saskatchewan, including analytical testing, resource modeling, seismic acquisition, and additional drilling. Funds will also be used for general corporate purposes as MAX Power advances what management believes to be a scalable natural hydrogen opportunity across its extensive land position.
MAX Power's Lawson Discovery near Central Butte, Saskatchewan, represents Canada's first-ever subsurface natural hydrogen system confirmed through deep drilling, with data validated by three independent labs. The company has built dominant district-scale land positions across Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits, plus an additional 5.7 million acres under application, covering prime exploration ground prospective for large-volume accumulations of natural hydrogen.
In addition to its hydrogen focus, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power's U.S. subsidiary.
The involvement of Eric Sprott, a well-known mining financier, underscores the potential significance of the Lawson discovery. Natural hydrogen, or white hydrogen, is generated through geological processes and is considered a potentially low-carbon energy source. If successfully developed, it could offer a new domestic supply of clean fuel.
MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
For more information about MAX Power, visit its newsroom at https://ibn.fm/MAXXF.
To view the full press release, visit https://ibn.fm/i6DhC.
