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 at a special meeting held on Aug. 20, 2026. The resolution passed with more than 99.92% of votes cast in favor, according to a press release disseminated by Rocks & Stocks.
The approval grants Sprott greater flexibility to increase his ownership position in MAX Power. Sprott indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants, representing approximately 19.5% of outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis assuming exercise of the warrants. This significant vote of confidence from a prominent investor like Sprott signals strong belief in MAX Power's strategic direction and asset portfolio.
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 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen.
In addition to its natural hydrogen projects, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are 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. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
The approval of Sprott as a control person is a notable development for the company, as it may lead to increased investment and strategic guidance. Sprott's involvement often brings additional credibility and attention to companies in the mining and energy sectors. This move could potentially accelerate MAX Power's exploration and development efforts, particularly as it seeks to advance its natural hydrogen and lithium assets.
Investors and industry observers will likely watch closely how Sprott's increased influence shapes MAX Power's future decisions and project milestones. The company's progress in natural hydrogen, a nascent but potentially transformative energy resource, positions it at the forefront of a emerging sector. With Sprott's backing, MAX Power may be better equipped to capitalize on these opportunities and navigate the challenges of exploration and development.
For more information on MAX Power and its projects, please visit the company's newsroom at https://ibn.fm/MAXXF. The full press release can be viewed at https://ibn.fm/7P7D5.
