International Energy Partner Invests $5 Million in Canada’s Energy Future

Core Viewpoint - MAX Power Mining Corp. has successfully closed a $5 million investment from Bitexco, a leading Vietnamese conglomerate, to accelerate Natural Hydrogen development in Saskatchewan, marking a significant step in clean energy initiatives in Canada [1][2][3]. Investment Details - The investment is part of a non-brokered private placement, resulting in the issuance of 16,666,666 units at a price of CDN $0.30 per unit, generating total gross proceeds of $5 million [6][14]. - Each unit consists of one common share and one-half of a non-transferable common share purchase warrant, with the whole warrant allowing the purchase of one share at an exercise price of $0.45 for 24 months [7][8]. Strategic Partnership - The partnership between MAX Power and Bitexco is aimed at accelerating the discovery and commercial development of Natural Hydrogen across a significant land package of 1.3 million acres in Saskatchewan [2][3]. - This collaboration is seen as a strategic alignment between a global energy conglomerate and Canadian government entities, enhancing MAX Power's credibility and positioning it as a key player in the clean energy sector [16][17]. Corporate Governance - Dr. Phung Khac Hoan, General Director of Big Energy, is set to join the MAX Power Board of Directors, bringing valuable expertise in the energy sector [10][11]. - An investor rights and shareholder agreement has been established, granting Big Energy rights to participate in future financings and certain board nomination rights [9]. Use of Proceeds - The net proceeds from the investment will be utilized for exploration and drilling of Natural Hydrogen properties in Saskatchewan, as well as for working capital and general corporate purposes [14]. Industry Positioning - MAX Power is positioned as a first mover in the Natural Hydrogen sector, with a dominant land position in Saskatchewan and ongoing drilling programs aimed at commercializing Natural Hydrogen [20]. - The investment and partnership are expected to enhance MAX Power's ability to meet the growing global demand for secure, low-carbon energy infrastructure [17].