MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FRANKFURT: 89N) has announced that Big Energy, an affiliate of Vietnam-based Bitexco, has completed the early exercise of 8,333,333 share purchase warrants, generating $3.75 million in proceeds for the company. The exercise increases Big Energy's ownership to 24,999,999 common shares, representing approximately 14.5% of MAX Power's issued and outstanding shares. CEO Ran Narayanasamy stated that the move demonstrates Big Energy's alignment with the company's goal of advancing the Lawson Complex toward what could become the world's first large-scale commercial natural hydrogen discovery, while supporting continued exploration and development activities in Saskatchewan.
The company also announced a special shareholder meeting scheduled for Aug. 20, 2026, in Regina, Saskatchewan, to consider approval of a resolution that would permit investor Eric Sprott to become a control person of the company. Sprott currently controls 30,984,979 common shares, representing 17.98% of outstanding shares, and holds warrants that could increase his position above the threshold requiring shareholder approval under Canadian Securities Exchange rules. MAX Power's board has recommended shareholders vote in favor of the resolution.
The 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 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, 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.
For more details on the announcement, readers can view the full press release at https://ibn.fm/vXzIe. Those interested in the geological thesis behind the Lawson Complex can learn more in the company's recent video, “Genesis Explained: Its ‘Salt Barrier’ Advantage and Proximity to Demand,” available at https://ibn.fm/1dJFl.
The $3.75 million infusion from the warrant exercise provides MAX Power with additional capital to advance its exploration programs, particularly at the Lawson Complex, where the company believes it is on the path to a world-first commercial natural hydrogen discovery. The potential approval of Eric Sprott as a control person signals strong institutional confidence in the company's strategy and could pave the way for further investment. MAX Power remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
