Eric Sprott Exercises $6 Million of MAX Power Warrants as Lawson Drilling Advances, Increases 24.35%
MAX Power Mining has received just over $6 million after major shareholder Eric Sprott exercised more than 12.1 million warrants ahead of their expiry, adding fresh capital as the company advances its natural hydrogen drilling program at the Lawson Complex in Saskatchewan.
Sprott, investing through 2176423 Ontario Ltd., exercised a total of 12,138,548 warrants accumulated through several investments since August 2025, including warrants carrying a $1.80 exercise price from MAX Power’s March 2026 private placement.
The exercises generated $6,004,216.22 for MAX Power.
The transaction also significantly increases Sprott’s equity position.
Before the exercise, he controlled 34,984,979 MAX Power shares, representing approximately 19.32% of the company.
Following completion of the warrant exercise on August 24, Sprott holds 47,123,527 shares, equivalent to approximately 24.35% of MAX Power’s 193.5 million outstanding shares.
He also retains another 16.5 million warrants, leaving the potential for his ownership position — and MAX Power’s treasury — to increase further if those securities are ultimately exercised.
The transaction follows shareholder approval earlier this month allowing Sprott to become a control person of MAX Power, providing greater flexibility for him to increase his ownership position.
For MAX Power, the immediate significance is the additional capital available for its ongoing natural hydrogen program.
CEO Ran Narayanasamy said the early warrant exercise will help accelerate the company’s commercial validation drilling, adding that MAX Power is currently ahead of schedule and under budget as it works to delineate what management describes as a large natural hydrogen system at Lawson.
The company is currently carrying out a multi-well follow-up program at the Lawson Complex near Central Butte, Saskatchewan, where its initial discovery established what MAX Power describes as Canada’s first subsurface natural hydrogen system confirmed through deep drilling and validated by three independent laboratories.
Lawson forms part of the broader Genesis Trend, a 475-kilometre geological corridor across Saskatchewan where MAX Power controls approximately 2 million acres of exploration permits.
The company interprets the broader Lawson Complex as covering approximately 28 square kilometres and is using its current drilling campaign to test the scale and potential commerciality of the system.
MAX Power indicated that fresh updates from the field are expected shortly as that program continues.
Separately, MAX Power President Chad Levesque is scheduled to present the company’s natural hydrogen strategy at the Clean Energy & Metals Virtual Investor Conference on August 27.
The company has also expanded its U.S. marketing program through a second addendum to its agreement with Emerging Markets Consulting. MAX Power will pay US$125,000 for a digital communications and email-distribution campaign running through the balance of August and September.
The warrant exercise itself does not provide new technical information from Lawson, but it materially strengthens MAX Power’s treasury at a particularly active point in its exploration program.
With more than $6 million arriving from an existing major shareholder rather than through a new financing, MAX Power gains additional capital to continue testing the Lawson system while avoiding the need to issue a separate new financing specifically to raise those funds.
The next significant information for the natural hydrogen story will come from the drill program itself.
MAX Power says it is now triangulating the first deposit at Lawson, making upcoming field results increasingly important in determining whether the discovery can progress from geological validation toward commercial validation.
Full press release is attached below:
REGINA, SK (August 25, 2026) – MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that Mr. Eric Sprott, through 2176423 Ontario Ltd., has exercised a total of 12,138,548 warrants of the Company issued pursuant to several investments since August 2025, including $1.80 warrants from a private placement in March 2026. Total funds received by MAX Power from the exercise of these warrants is $6,004,216.22.
Prior to the exercise, Mr. Sprott beneficially owned, directly or indirectly, an aggregate of 34,984,979 shares of the Company, representing approximately 19.32% of the Company’s issued and outstanding common shares.
Following the exercise completed August 24, 2026, Mr. Sprott beneficially owns, directly or indirectly 47,123,527 shares, representing approximately 24.35% of the Company’s 193,505,888 issued and outstanding common shares. He also holds a total 16,500,000 additional warrants.
Mr. Ran Narayanasamy, CEO of MAX Power, commented: “On behalf of the Board, I sincerely thank Eric Sprott for his substantial early warrant exercise and continued strong vote of confidence in MAX Power. The early warrant exercise further accelerates our commercial validation drill program, with fresh updates from the field expected shortly. We are ahead of schedule, under budget, and delineating a very large Natural Hydrogen system as we triangulate the first deposit at the Lawson Complex.”
MAX Power to Present at the Clean Energy & Metals Virtual Investor Conference Thursday, Aug. 27
MAX Power President and Director Chad Levesque will present live at the Clean Energy & Metals Virtual Investor Conference hosted by VirtualInvestorConferences.com on August 27, 2026.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
Mr. Chad Levesque, MAX Power President, stated: “It’s always exciting to present the MAX Power Natural Hydrogen story to investors, as I did last week in Houston, and I’m especially looking forward to this online event that features investors from all over the world. The Lawson Discovery is getting bigger by the day and I encourage investors to pre-register and mark this event on their calendar, 1:30 – 2:00 pm ET Thursday, August 27.”
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Time: 1:30 – 2:00 pm ET, Thursday, Aug. 27
Where: www.virtualinvestorconferences.com
Available for 1×1 meetings: August 27: Schedule 1×1 meetings here.
Learn more about the event at www.virtualinvestorconferences.com.
Marketing Agreement
MAX Power Mining Corp. announces that, pursuant to a second addendum dated August 21, 2026 to its existing agreement with Emerging Markets Consulting, LLC (“EMC”) dated December 29, 2025, it has engaged EMC to conduct digital communication and an email distribution marketing campaign (the “Campaign”) to raise awareness of the Company, predominantly in the United States during the balance of August and September, 2026, commencing immediately.
In consideration for the Campaign, the Company has agreed to pay EMC $125,000 (USD), payable in full upon execution of the addendum. EMC is located at 390 North Orange Avenue, Suite 2300, Orlando, Florida, and its principal is James S. Painter. EMC deals with the Company at arm’s length, and neither EMC nor its principals own, directly or indirectly, any securities of the Company. EMC’s compensation is payable in cash only, not securities of the Company.
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President Chad Levesque On Significance of Lawson
https://youtu.be/wCeFQTKtOuI
What is Natural Hydrogen?
https://www.youtube.com/watch?v=S0bqqZeIpxc
Genesis Explained: Its “Salt Barrier” Advantage and Proximity to Demand
https://www.youtube.com/watch?v=3ytpHdve6S8
The Genesis Trend’s Industrial Corridor
https://youtube.com/shorts/IAgALH_s3mI
Lawson – Canada’s First Big Step into Natural Hydrogen
https://www.youtube.com/watch?v=lTTOwMxz_zo
MAX Power Leaps at Lawson
https://www.youtube.com/watch?v=Yr4Ha06__Eg
Watch the Drill in Action
https://www.youtube.com/watch?v=eguNGAfdIek
MAX Power Saskatchewan Natural Hydrogen Documentary Video
https://www.youtube.com/watch?v=TXGDtTUbJ2c
History in The Making at Lawson – Video Immediately Ahead of Drill Rig Setup
https://www.youtube.com/watch?v=BNHazk9Sy4E
About MAX Power
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 2 million acres (~809,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen, and has commenced a multi-well follow-up drill program to validate the commerciality of the broader Lawson Complex interpreted to cover a 28 sq. km area along the 475-km Genesis Trend. MAX Power also holds a significant equity position in Homeland Critical Minerals, which now owns the Willcox Project in Arizona, a lithium discovery confirmed in early 2024 by MAX Power. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.
On behalf of the Board of Directors,
Ran Narayanasamy, CEO
MAX Power Mining Corp.
info@maxpowermining.com
For further information, please contact:
Chad Levesque, President
Ph: 1-306-981-4753
chad@maxpowermining.com
Media Contact:
Sarah Mawji, Venture Strategies
sarah@venturestrategies.com
Cautionary Statement and Forward-Looking Information
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”).
Forward-looking information is based on management’s current expectations, estimates, projections, assumptions and beliefs and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, among others, the possibility that Mr. Eric Sprott may not participate in future financings or exercise all his warrants, changes in market conditions, the availability of financing, exploration and development risks, regulatory risks, commodity price fluctuations and other risks associated with the mineral exploration industry.
Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking information. Additional information regarding the risks and uncertainties applicable to the Company and its business is contained in the Company’s continuous disclosure filings available under the Company’s profile on SEDAR+. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. The Company undertakes no obligation to update or revise any forward-looking information, whether the result of new information, future events or otherwise, except as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
