MAX Power Closes $1.2 Million Private Placement

Core Viewpoint - MAX Power Mining Corp. has successfully closed a non-brokered private placement, raising a total of $1,200,000 by issuing 6,000,000 units at a price of $0.20 per unit [1][2]. Private Placement Details - Each unit consists of one common share and one-half of a non-transferable common share purchase warrant, with each whole warrant exercisable at $0.30 for 24 months [2]. - The offering was made to residents in Canadian provinces, excluding Quebec, under the listed issuer financing exemption [5]. Acceleration Clause - The company may accelerate the expiry of the warrants if the closing price of its common shares exceeds C$0.45 for 10 consecutive trading days, with a notice period of 30 days following the triggering event [3]. Use of Proceeds - The net proceeds from the financing will be allocated for exploration, evaluation, potential property acquisitions, general administrative expenses, marketing, investor relations, and working capital [4]. Additional Financial Details - The company paid finder's fees totaling $24,710 in cash and issued 123,550 finder warrants, also exercisable at $0.30 for 24 months [7]. - A total of 700,000 stock options were granted to a director and a consultant, with exercise prices of $0.25 and $0.35, expiring in three years [9]. Company Overview - MAX Power is focused on mineral exploration, particularly in the Natural Hydrogen sector, and has strategic alliances with engineering firms to support its initiatives [10].