03:33 PM EDT, 03/20/2026 (MT Newswires) -- Max Power Mining ( MAXXF ) said Friday afternoon that it has closed a private placement, raising about $20.5 million, with investor Eric Sprott (SII.TO) as the lead participant.

"This is the largest raise in MAX Power history, occurring in the immediate aftermath of the Lawson Discovery as Canada's first confirmed Natural Hydrogen subsurface system on the 475-km-long Genesis Trend in Saskatchewan," Chief Executive Ran Narayanasamy said.

The company sold about 15.8 million units at C$1.30 each, with each unit including one common share and half a warrant. Each full warrant allows the holder to buy a share at C$1.80 within two years, Max Power said, adding that Sprott invested nearly $4.6 million in the offering.

The company said proceeds will be used to advance its natural hydrogen project in Saskatchewan, including testing, resource estimates, seismic data, and drilling, as well as for general corporate purposes, the company added.

MAXX was unchanged at $1.25.

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