MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that disinterested shareholders overwhelmingly approved a resolution relating to the creation of Eric Sprott as a control person of the company at its Aug. 20, 2026, special meeting, with more than 99.92% of votes cast in favor. The approval gives Sprott greater flexibility to increase his ownership position in MAX Power.
Sprott indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants, representing approximately 19.5% of outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis assuming exercise of the warrants. This overwhelming shareholder support underscores confidence in the company's strategic direction and its pioneering efforts in the natural hydrogen sector.
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 natural 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 milestone for MAX Power. Sprott, a renowned investor in the resource sector, now has the ability to increase his stake, which could bring additional capital and strategic guidance. This vote of confidence from shareholders and Sprott's continued involvement signal strong potential for the company's future growth.
Investors and industry observers will be watching closely as MAX Power advances its natural hydrogen and lithium projects. The company's unique positioning in the emerging natural hydrogen space, coupled with its critical minerals portfolio, makes it a notable player in the transition to a low-carbon economy.
For more information on MAX Power, visit the company's newsroom at https://ibn.fm/MAXXF.
