At a special meeting held on August 20, 2026, disinterested shareholders of MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) voted overwhelmingly in favor of a resolution to create Eric Sprott as a control person of the company. With more than 99.92% of votes cast in support, the approval grants Sprott greater flexibility to increase his ownership position in MAX Power.
Sprott currently indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. This represents approximately 19.5% of the company's outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. The approval allows Sprott to potentially raise his stake without triggering certain takeover provisions under Canadian securities laws.
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. Its flagship asset is the Lawson Discovery near Central Butte, Saskatchewan, which is Canada's first-ever subsurface natural hydrogen system confirmed through deep drilling, with data validated by three independent labs. The company has built dominant district-scale land positions across Saskatchewan, covering approximately 1.3 million acres (521,000 hectares) of permits that are prospective for large-volume accumulations of natural hydrogen.
In addition to its natural hydrogen pursuits, 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, 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.
The approval of Sprott as a control person is significant for the company and the broader mining and energy sector. Sprott is a well-known and influential investor in the natural resources space, and his increased involvement could bring additional capital and credibility to MAX Power's projects. This development may also signal growing investor confidence in the potential of natural hydrogen as a clean energy source, as well as the importance of critical minerals like lithium in the transition to a low-carbon economy.
For investors and industry observers, this move underscores the strategic value of MAX Power's early-mover position in natural hydrogen exploration. The company's success in confirming a subsurface hydrogen system in Saskatchewan could pave the way for further investment and development in this emerging sector. As the world seeks to decarbonize, natural hydrogen offers a potential low-carbon energy source that could complement renewables and other clean technologies.
MAX Power's land position and exploration results position it well to capitalize on the growing interest in natural hydrogen and critical minerals. With Sprott's backing, the company may accelerate its exploration and development activities, potentially leading to new discoveries and partnerships. The approval also highlights the importance of shareholder support in enabling strategic investments that can drive long-term value creation.
For more information on MAX Power and its projects, visit the company's newsroom at https://ibn.fm/MAXXF. The full press release regarding the shareholder approval can be accessed at https://ibn.fm/7P7D5.
