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Eric Sprott buys into MAX Power Mining via $7.1M private placement

The investment increases Sprott’s stake to 19.5% and is tied to funding MAX’s Lawson natural hydrogen drilling and related corporate costs.

Reported · Written up by our desk · Energy Transition

Canadian billionaire Eric Sprott has invested C$10 million, or $7.1 million, in MAX Power Mining through a private placement, boosting his ownership from 17.6% to 19.5% of issued and outstanding shares on a non-diluted basis, Mining.com reports.

Under the financing, MAX Power Mining will issue 4 million units at C$2.50 each to 2176423 Ontario Ltd., a corporation owned by Sprott. Each unit includes a common share and a share purchase warrant exercisable at C$3.25 for 24 months after the closing date, which is expected to occur on or around Aug. 17, 2026.

MAX says the deal follows progress on its Lawson natural hydrogen project in south-central Saskatchewan, where it recently obtained permits supporting expansion. Sprott previously invested C$25 million into the Lawson project in May, and MAX plans to use the new proceeds to advance its commercial validation drill program and for general corporate purposes.

After the private placement, Sprott will be required to file an early warning report under National Instrument 62-103. A shareholders meeting is scheduled for Aug. 20, 2026, where investors will vote on whether to make Sprott a control person of the company, with any control change expected after a four-month-and-one-day hold period if the resolution passes.

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