MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that its disinterested shareholders overwhelmingly approved a resolution to create Eric Sprott as a control person of the company. The vote took place at a special meeting on Aug. 20, 2026, with more than 99.92% of votes cast in favor. This approval grants Sprott greater flexibility to increase his ownership position in MAX Power, a move that signals strong confidence in the company's strategic direction.
Sprott, a prominent Canadian investor, indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. This represents approximately 19.5% of MAX Power's outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. The control person designation is a significant endorsement, as Sprott is known for backing resource and energy ventures with high growth potential.
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's flagship asset is the Lawson Discovery near Central Butte, Saskatchewan, which represents Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling. Data from the discovery has been validated by three independent labs, underscoring the technical credibility of the project.
In addition to Natural Hydrogen, MAX Power has built dominant district-scale land positions across Saskatchewan, with approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen. The company also holds a portfolio of properties in the United States and Canada focused on critical minerals. These include the Willcox Playa Lithium Project in southeast Arizona, where a 2024 diamond drilling discovery was made at the 100%-owned site.
The approval of Sprott as a control person is likely to enhance MAX Power's ability to advance its projects, given Sprott's extensive experience in financing and developing resource companies. It also provides a strong signal to the market about the potential of MAX Power's assets, which are positioned to play a role in the global energy transition.
As MAX Power progresses, it remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. The company's focus on Natural Hydrogen and lithium aligns with the increasing demand for clean energy solutions and critical minerals.
For more information on MAX Power and its projects, visit the company's newsroom at https://ibn.fm/MAXXF.
