MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FRANKFURT: 89N) has announced that Big Energy, an affiliate of Vietnam-based Bitexco, has completed the early exercise of 8,333,333 share purchase warrants, generating $3.75 million in proceeds for the company. Following the exercise, Big Energy increased its ownership stake to 24,999,999 common shares, representing 14.5% of MAX Power's issued and outstanding shares. This strategic move underscores Big Energy's alignment with MAX Power's goal of advancing the Lawson Complex toward what the company believes could become the world's first large-scale commercial natural hydrogen discovery.
CEO Ran Narayanasamy emphasized that the early warrant exercise provides crucial funding to support continued exploration and development activities in Saskatchewan. The proceeds will bolster the company's efforts to further investigate the Lawson Discovery, which represents Canada's first-ever subsurface natural hydrogen system confirmed through deep drilling and validated by three independent labs. The company has built a dominant district-scale land position 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 the warrant exercise, MAX Power announced a special shareholder meeting scheduled for Aug. 20, 2026, in Regina, Saskatchewan, to consider approval of a resolution that would permit investor Eric Sprott to become a control person of the company. Sprott currently controls 30,984,979 common shares, representing 17.98% of outstanding shares, and holds warrants that could increase his position above the threshold requiring shareholder approval under Canadian Securities Exchange rules. MAX Power's board has recommended shareholders vote in favor of the resolution.
The company also 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, which is 100%-owned by MAX Power's U.S. subsidiary. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
For more details on the press release, visit https://ibn.fm/vXzIe. Readers interested in the geological thesis behind the Lawson Complex can learn more in the company's recent video, “Genesis Explained: Its ‘Salt Barrier’ Advantage and Proximity to Demand,” available at https://ibn.fm/1dJFl.
