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 comprised 15,805,624 units priced at C$1.30 per unit, with Eric Sprott as the lead investor and Hampton Securities Limited acting as lead agent and sole bookrunner. The company stated that the funds will be allocated to the ongoing evaluation and development of its Lawson Natural Hydrogen discovery in Saskatchewan, including analytical testing, resource modeling, seismic acquisition, and additional drilling, as well as for general corporate purposes.
The 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 laboratories. MAX Power has built a dominant district-scale land position in Saskatchewan, with approximately 1.3 million acres (521,000 hectares) of permits and an additional 5.7 million acres under application, covering prime exploration ground prospective for large-volume accumulations of natural hydrogen. The company believes this opportunity is scalable across its extensive land position.
In addition to its hydrogen focus, 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, meaningful community engagement, and strong corporate governance.
Investors can access the full press release at https://ibn.fm/i6DhC. For the latest news and updates on MAX Power, visit the company's newsroom at https://ibn.fm/MAXXF.
