MAX Power Mining Secures $10 Million Investment from Eric Sprott

MAX Power Mining Corp. entered into a strategic non-brokered private placement agreement with investor Eric Sprott for gross proceeds of $10 million. Through his corporation, 2176423 Ontario Ltd., Sprott will subscribe for 4 million units at $2.50 per unit, with the closing expected around August 17, 2026.

Each unit consists of one common share and one purchase warrant for an additional share at $3.25, which remains exercisable for 24 months. The company intends to use the capital for general corporate purposes and to advance its commercial validation drill program at the Lawson Complex in Saskatchewan.

Following the investment, Sprott's non-diluted ownership will increase to approximately 19.5%. A special meeting of shareholders is scheduled for August 20, 2026, to vote on a resolution that would establish Sprott as a control person of the company. The closing of the private placement remains subject to approval from the Canadian Securities Exchange.