Max Power Mining Secures Funding for Hydrogen Exploration Drive

Max Power Mining accelerates development of Canada's first natural hydrogen discovery in Saskatchewan with a $20M CAD private placement and new shareholder rights plan.

Max Power Mining is accelerating its efforts to develop a natural hydrogen resource in Canada. The company has unveiled plans for a private placement to raise up to $20 million CAD, concurrently implementing a shareholder rights plan. These moves are designed to fund the next phase of work required to assess the commercial viability of its landmark discovery in Saskatchewan.

Shareholder Rights and Strategic Funding

Effective March 9, 2026, Max Power Mining enacted a Shareholder Rights Plan. This measure, a common practice among Canadian listed companies, is intended to provide the board and shareholders adequate time to evaluate alternatives in the event of an unsolicited takeover bid. The company clarified the plan was not adopted in response to any specific proposal. Shareholders are scheduled to formally ratify the plan at the Annual General Meeting on April 17, 2026.

The financing initiative, also announced on March 9, 2026, is structured as a private placement. It aims to raise a minimum of $4 million CAD, with the potential to reach a maximum of $20 million CAD. The offering consists of 15.38 million units priced at $1.30 CAD each. Every unit comprises one common share and one-half of one warrant, with each full warrant exercisable at $1.80 CAD for a period of 24 months. Lead agent Hampton Securities Limited is overseeing the placement, which is expected to close on or around March 20, 2026, subject to regulatory approvals.

Lawson Discovery: A Canadian First

The capital raise is directly linked to a breakthrough achievement earlier in the year. In January 2026, Max Power Mining confirmed Canada's first successful discovery of natural hydrogen at its Lawson drill site. Analysis recorded hydrogen concentrations reaching 286,000 parts per million, providing concrete evidence of an active subsurface hydrogen system.

This discovery forms the foundation of the company's extensive land position. Max Power Mining currently holds exploration licenses covering approximately 1.3 million acres in Saskatchewan, with an additional 5.7 million acres under application. The geological formation, known as the Genesis Trend, extends roughly 475 kilometers from Saskatchewan into the U.S. states of Montana and the Dakotas.

Allocating Capital for the Next Phase

Net proceeds from the financing are earmarked for a detailed work program to advance the Lawson project. Key allocations include analytical testing, resource modeling, and funding for a confirmation drill hole at the discovery site. Furthermore, the company plans to acquire 2D and 3D seismic data and conduct additional drilling.

Alongside work at Lawson, preparations are underway for a second drill target named "Bracken," located near the Montana border. This project employs a stratigraphic exploration concept distinct from the Lawson site, aiming to test whether the geological model holds across a broader region.

The company's shares have multiplied in value since hitting a 52-week low of €0.11 in April 2025, though the current price remains approximately 17% below its annual high. The focus for the first half of 2026 now shifts to the 3D seismic survey over the discovery zone and at least one further confirmation drill. The results from these activities will be pivotal in determining the commercial potential of the Lawson hydrogen project.