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 proceeds will be used to support the ongoing evaluation and development of the company's Lawson Natural Hydrogen discovery in Saskatchewan, including analytical testing, resource modeling, seismic acquisition and additional drilling. Funds will also be allocated for general corporate purposes as MAX Power advances what it believes is a scalable natural hydrogen opportunity across its extensive land position.
MAX Power's Lawson Discovery, located 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.
Natural hydrogen, also known as white hydrogen, is generated naturally through geological processes and is considered a potential low-carbon energy source. The successful closing of this placement underscores investor confidence in the emerging natural hydrogen sector and MAX Power's strategic position within it.
In addition to its natural 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, which is 100%-owned by MAX Power's U.S. subsidiary.
The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. For more information, visit the company's newsroom at https://ibn.fm/MAXXF.
The full press release is available at https://ibn.fm/i6DhC.
