Investor Eric Sprott Increases Open-Market Position in MAX Power

MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; Frankfurt: 89N) has reported additional open-market share purchases by Eric Sprott, reinforcing continued institutional confidence as the Company advances Canada’s most extensive natural hydrogen land position.

According to an early warning disclosure, Mr. Sprott, through his wholly owned entity 2176423 Ontario Ltd., acquired 600,500 common shares of MAX Power on the Canadian Securities Exchange at an average price of $0.8205 per share, representing an aggregate investment of approximately $492,700.

Following the transaction, Mr. Sprott now beneficially owns 10,969,818 common shares and 10,369,318 warrants, representing approximately 9.8% of MAX Power on a non-diluted basis and 17.5% on a partially diluted basis, assuming exercise of outstanding warrants. The purchase was made in the open market and reflects a long-term investment view.

The disclosure follows a series of high-profile developments for MAX Power, including the recent $5 million strategic investment from Vietnam-based Bitexco affiliate Big Energy and continued advancement of its multi-well natural hydrogen program in Saskatchewan.

Mr. Sprott indicated that the shares were acquired for investment purposes and that he may increase or reduce his position over time depending on market conditions and other relevant factors.

For MAX Power, continued open-market accumulation by one of Canada’s most closely followed resource investors underscores sustained conviction in the Company’s leadership position within the emerging natural hydrogen sector.

Full press release is attached below:

Toronto, Ontario--(Newsfile Corp. - January 16, 2026) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 600,500 common shares (Shares) of Max Power Mining Corp. over the Canadian Securities Exchange (representing approximately 0.5% of the outstanding shares on non-diluted basis) at a price of $0.8205 per share for aggregate consideration of $492,710.25.

Prior to the acquisition of Shares, Mr. Sprott beneficially owned 10,369,318 Shares and 10,369,318 Share purchase warrants (Warrants), representing approximately 9.3% of the outstanding Shares on a non-diluted basis and 17.0% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants. Mr. Sprott now beneficially owns and controls 10,969,818 Shares and 10,369,318 Warrants, representing approximately 9.8% of the outstanding Shares on a non-diluted basis and 17.5% of the outstanding Shares on a partially-diluted basis assuming exercise of such Warrants. The acquisition resulted in a decrease in holdings, on a partially diluted basis, of approximately 6.0% since the date of the last filing of an early warning report.

The Shares were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Max Power is located at 15 Innovation Boulevard, Saskatoon, Saskatchewan, S7N 2X8. A copy of the early warning report with respect to the foregoing will appear on Max Power's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario, M5C 3C5).