09:53 AM EDT, 08/08/2025 (MT Newswires) -- MAX Power Mining ( MAXXF ) on Friday said it raised $2 million as it closed its LIFE offering of units involving "strategic" new investors, following its previously announced closings of its non-brokered private placements of units which raised $2.45 million with Eric Sprott as the lead buyer.

The company issued 10 million units priced at $0.20 each. Each unit is made up of one share and one warrant to buy one additional share at $0.25 per share from the date that is 61 days after the closing date of the LIFE offering until the date that is 24 months from the closing date of the LIFE offering.

Certain insiders participated in the LIFE offering.

The proceeds of the offering will go toward exploration of the company's Natural Hydrogen properties in Saskatchewan and general working capital purposes.

"In total we have raised gross proceeds of $4.45 million, our largest financing ever - $2 million was previously announced on August 1, 2025, and is from Eric Sprott, while much of the additional $2.45 million is from other strategic new investors with significant participation as well from management and directors," said MAX Power Mining's ( MAXXF ) Chief Executive Officer, Mansoor Jan.

The company's shares were last seen up 3.1% to $0.33 on the Canadian Securities Exchange.

Price: 0.33, Change: +0.01, Percent Change: +3.13