In a decisive vote at a special meeting held on Aug. 20, 2026, disinterested shareholders of MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) approved a resolution to designate Eric Sprott as a control person of the company. The resolution passed with more than 99.92% of votes cast in favor, signaling strong shareholder support for Sprott's involvement.
This approval grants Sprott greater flexibility to increase his ownership position in MAX Power. Currently, Sprott 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 roughly 30.5% on a partially diluted basis, assuming exercise of the warrants.
The significance of this development lies in Sprott's reputation as a prominent and influential investor in the natural resources sector. His increased ability to acquire more shares is a strong endorsement of MAX Power's strategic direction and growth prospects. The company is at the forefront of the shift to decarbonization, with its flagship Lawson Discovery in Saskatchewan representing Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling. This discovery has been validated by three independent laboratories, adding to its credibility.
MAX Power has established a dominant district-scale land position in Saskatchewan, holding approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground for large-volume accumulations of Natural Hydrogen. This extensive land package positions the company as a key player in the emerging natural hydrogen sector, which has the potential to provide a clean and abundant energy source.
In addition to its hydrogen projects, MAX Power holds a portfolio of critical mineral properties in the United States and Canada. Notably, the company's 2024 diamond drilling program at the Willcox Playa Lithium Project in southeast Arizona yielded positive results. This project is 100% owned by MAX Power's U.S. subsidiary, underscoring the company's commitment to securing supplies of critical minerals essential for the energy transition.
The approval of Sprott as a control person is expected to enhance investor confidence and could facilitate further capital raising activities. With Sprott's backing, MAX Power is well-positioned to advance its exploration and development programs, potentially accelerating the path to commercialization for its natural hydrogen and lithium assets.
For more information on this announcement, visit the full press release at https://ibn.fm/7P7D5. The latest news and updates on MAX Power are available in the company's newsroom at https://ibn.fm/MAXXF.
This shareholder approval marks a significant milestone for MAX Power as it continues to develop its pioneering projects. The company remains committed to responsible exploration and development practices, prioritizing environmental stewardship, community engagement, and strong corporate governance. With Sprott's increased involvement, the company is poised for a new phase of growth and innovation in the clean energy sector.
