MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that its disinterested shareholders overwhelmingly approved a resolution to designate Eric Sprott as a control person of the company. The vote took place at a special meeting on Aug. 20, 2026, with more than 99.92% of votes cast in favor, according to a press release disseminated by Rocks & Stocks.
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 outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis assuming exercise of the warrants.
This development is significant for MAX Power and its shareholders, as Sprott is a well-known and influential investor in the mining and resource sectors. His increased involvement may bring additional credibility and attention to the company's projects, potentially impacting its ability to secure funding and partnerships.
MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's flagship asset is the Lawson Discovery near Central Butte, Saskatchewan, which 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.
The company also 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 approval of Sprott as a control person may influence the company's strategic direction and financial standing. With his track record of investing in resource ventures, Sprott's potential increased stake could signal confidence in MAX Power's exploration assets, particularly in the emerging natural hydrogen sector. This could attract other investors and bolster the company's position in the market.
MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. The company's focus on natural hydrogen and critical minerals aligns with global trends toward clean energy and electrification, positioning it to benefit from the growing demand for these resources.
For more information about MAX Power, visit the company's newsroom at https://ibn.fm/MAXXF. To view the full press release, visit https://ibn.fm/7P7D5.
