Fresh investment by Eric Sprott into MAX Power follows early success in ongoing commercial validation drill program at Lawson Complex as MAXX aims to confirm the world’s first large-scale commercial discovery of Natural Hydrogen, a potentially transformational new primary energy source
Video: The Time is Now
https://youtu.be/TKnEnBEQ0TM
REGINA, Saskatchewan, Aug. 17, 2026 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that, further to its August 10, 2026 news release, it has closed its strategic non-brokered private placement (the “Private Placement”) with Mr. Eric Sprott for gross proceeds of $10 million. The Private Placement consisted of 4,000,000 units (“Units”) of the Company at a price of $2.50 per Unit through 2176423 Ontario Ltd., a corporation beneficially owned by Mr. Sprott.
Mr. Ran Narayanasamy, MAX Power CEO, commented: “We are grateful for Eric’s continued confidence in MAX Power and our mission to unlock the commercial potential of Natural Hydrogen. This investment enables us to accelerate our validation drilling at the Lawson Complex, bringing us closer to demonstrating the viability of this transformative energy source.”
The Company intends to use the net proceeds of the Private Placement to further advance its ongoing commercial validation drill program at the Lawson Complex and for general corporate purposes, including administrative and marketing expenses.
Private Placement Terms
Each Unit consisted of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles Mr. Sprott to purchase one Common Share (each, a “Warrant Share”) at a price of $3.25 per Warrant Share for a period of 24 months from the closing date of the Private Placement. All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Private Placement is subject to the final approval of the Canadian Securities Exchange.
Mr. Sprott currently holds more than 10% of the issued and outstanding Common Shares. As a result, his participation in the Private Placement constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Units issued to Mr. Sprott, and the consideration paid by him, did not exceed 25% of the Company’s market capitalization.
Upon completion of the Private Placement, Mr. Sprott indirectly owns and exercises control over 34,984,979 Common Shares and 28,638,548 Warrants, representing approximately 19.5% of the issued and outstanding Common Shares (on a non-diluted basis) or 30.5% of the issued and outstanding Common Shares (on a partially diluted basis, assuming exercise of the Warrants). As previously announced by the Company, a special meeting of shareholders (the “Meeting”) is scheduled to be held on August 20, 2026, at which disinterested shareholders will be asked to consider and, if thought advisable, approve an ordinary resolution approving the creation of Mr. Sprott as a control person of the Company (the “Control Person Resolution”). Pursuant to the terms of a supplementary agreement, Mr. Sprott has agreed to refrain from exercising Warrants that would result in his shareholdings exceeding 19.9% of the issued and outstanding Common Shares unless and until the requisite shareholder and stock exchange approvals have been obtained.
The securities offered under the Private Placement have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Figure 1 – Drilling Photo From Lawson, Genesis Trend (Nov. 2025)
Recent Videos
President Chad Levesque On Significance of Lawson
https://youtu.be/wCeFQTKtOuI
What is Natural Hydrogen?
https://www.youtube.com/watch?v=S0bqqZeIpxc
Genesis Explained: Its “Salt Barrier” Advantage and Proximity to Demand
https://www.youtube.com/watch?v=3ytpHdve6S8
The Genesis Trend’s Industrial Corridor
https://youtube.com/shorts/IAgALH_s3mI
Lawson – Canada’s First Big Step into Natural Hydrogen
https://www.youtube.com/watch?v=lTTOwMxz_zo
MAX Power Leaps at Lawson
https://www.youtube.com/watch?v=Yr4Ha06__Eg
Watch the Drill in Action
https://www.youtube.com/watch?v=eguNGAfdIek
MAX Power Saskatchewan Natural Hydrogen Documentary Video
https://www.youtube.com/watch?v=TXGDtTUbJ2c
History in The Making at Lawson – Video Immediately Ahead of Drill Rig Setup
https://www.youtube.com/watch?v=BNHazk9Sy4E
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About MAX Power
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The Company’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. MAX Power has built dominant district-scale land positions across Saskatchewan with approximately 2 million acres (~809,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen, and has commenced a multi-well follow-up drill program to validate the commerciality of the broader Lawson Complex interpreted to cover a 28 sq. km area along the 475-km Genesis Trend. MAX Power also holds a significant equity position in Homeland Critical Minerals, which now owns the Willcox Project in Arizona, a lithium discovery confirmed in early 2024 by MAX Power. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
On behalf of the Board of Directors,
Ran Narayanasamy, CEO
MAX Power Mining Corp.
[email protected]
For further information, please contact:
Chad Levesque, President
Ph: 1-306-981-4753
[email protected]
Media Contact:
Sarah Mawji, Venture Strategies
[email protected]
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward-looking statements. Specifically, this news release contains forward-looking statements concerning, without limitation, the expected use of proceeds and the advancement of the Company’s mineral properties and exploration activities. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on forward-looking information because the Company cannot give any assurance that they will prove correct. Since forward-looking information addresses future events and conditions, it involves inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to multiple assumptions, factors and risks, including, but not limited to, assumptions and risks associated with exploration, appraisal and development risks and risks related to the state of financial markets or future commodity and energy prices.
Forward-looking information is based on management’s current expectations, estimates, projections and assumptions, including, among other things, assumptions regarding the Company’s ability to execute its work programs as planned, the availability and performance of equipment and personnel, regulatory timelines and approvals, geological continuity and reservoir characteristics, market conditions and access to sufficient capital on acceptable terms.
Forward-looking information is inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including, without limitation: exploration, appraisal and development risks; the ability to obtain and maintain required permits and regulatory approvals in a timely manner; availability and cost of equipment and qualified personnel; geological, geophysical, and technical uncertainties; fluctuations in commodity and energy market prices; general economic conditions; and the Company’s ability to secure additional financing on acceptable terms. There can be no assurance that the Company will complete its planned drilling or related programs as currently contemplated or within the anticipated timelines, or that any such programs, if completed, will be successful or result in commercial production.
Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information in this press release is provided as of the date hereof, and the Company does not undertake any obligation to update or revise such information except in accordance with applicable securities laws. Additional information regarding risks and uncertainties applicable to the Company’s business is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecee70ea-fbb8-48fd-8abd-140f4977d2ac
