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. The vote, held at the Aug. 20, 2026, special meeting, saw more than 99.92% of votes cast in favor. This approval grants Sprott greater flexibility to increase his ownership position in MAX Power, a move that signals strong investor confidence in the company's strategic direction.
Sprott, a renowned investor in the mining sector, indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. This represents approximately 19.5% of MAX Power's outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. The control person designation allows Sprott to potentially raise his stake without triggering certain regulatory restrictions, which could lead to further alignment of interests between the company and its largest shareholder.
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 hydrogen assets, 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 Eric Sprott as a control person is a significant development for MAX Power, as it underscores the company's potential and the confidence of a major investor. Sprott's involvement may attract additional institutional interest and provide the company with more substantial financial backing as it continues to advance its projects.
For more information on MAX Power's news and updates, visit the company's newsroom at https://ibn.fm/MAXXF. The full press release can be viewed at https://ibn.fm/7P7D5.
