MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced the closing of its previously announced private placement, raising approximately C$20.5 million in gross proceeds. The placement, led by prominent investor Eric Sprott, involved the sale of 15,805,624 units at C$1.30 per unit, with Hampton Securities Limited acting as lead agent and sole bookrunner.
The proceeds will be directed primarily toward the ongoing evaluation and development of the company's Lawson Natural Hydrogen discovery in Saskatchewan. Plans include analytical testing, resource modeling, seismic acquisition, and additional drilling, as well as general corporate purposes. The company views this as a scalable natural hydrogen opportunity across its extensive land position, which includes approximately 1.3 million acres of permits and an additional 5.7 million acres under application.
MAX Power'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. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, community engagement, and strong corporate governance.
In addition to its hydrogen focus, MAX Power 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 its U.S. subsidiary.
For more information, the full press release is available at https://ibn.fm/FlygS. Updates on MAXXF can be found in the company's newsroom at https://ibn.fm/MAXXF.
