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. The offering, led by renowned investor Eric Sprott, consisted of 15,805,624 units priced at C$1.30 per unit, with Hampton Securities Limited acting as lead agent and sole bookrunner.
The company plans to use the proceeds to advance the evaluation and development of its Lawson Natural Hydrogen discovery in Saskatchewan. Activities will include analytical testing, resource modeling, seismic acquisition, and additional drilling, as well as general corporate purposes. MAX Power believes this discovery represents a scalable natural hydrogen opportunity across its extensive land position.
According to the company, the Lawson Discovery near Central Butte, Saskatchewan, is 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 of permits, plus an additional 5.7 million acres under application, covering prime exploration ground for large-volume accumulations of natural hydrogen.
In addition to its hydrogen projects, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These include 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, community engagement, and strong corporate governance.
The private placement's closing is a significant milestone for MAX Power, providing the financial resources needed to accelerate work on a discovery that could have major implications for the clean energy transition. Natural hydrogen, also known as white or gold hydrogen, is generated through natural geological processes and has the potential to provide a low-carbon energy source.
For more information, view the full press release at https://ibn.fm/i6DhC. Updates on MAXXF are available in the company's newsroom at https://ibn.fm/MAXXF.
