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Max Power Closes First $2.45 Million in Private Placements With Eric Sprott as Lead Investor
Globenewswire· 2025-08-01 20:12
Core Viewpoint - MAX Power Mining Corp. has successfully closed non-brokered private placements, raising a total of C$2,450,000, with Eric Sprott as the lead investor [1][3]. Group 1: Private Placement Details - The company issued a total of 5,681,818 Units at a price of C$0.22, which includes 5,618,818 common shares and 5,681,818 share purchase warrants exercisable at C$0.29 per share [2] - Additionally, 7,500,000 Units were issued at C$0.16, comprising 7,500,000 common shares and 7,500,000 share purchase warrants exercisable at C$0.25 per share [2] - The warrants are valid until August 1, 2027, and are subject to an acceleration clause [2] Group 2: Investor Participation - Eric Sprott, through his corporation, acquired a total of 10,369,318 common shares and warrants, representing approximately 13.3% on a non-diluted basis and 23.5% on a fully diluted basis [4] - Prior to the offerings, Mr. Sprott did not own any securities of the company [4] - Insiders, including Mr. Sprott, participated in the offerings for a total of $2,072,000, which included 5,137,500 Units at C$0.16 and 5,681,818 Units at C$0.22 [7] Group 3: Use of Proceeds and Future Plans - Proceeds from the offerings will be allocated towards the exploration of Natural Hydrogen properties in Saskatchewan and for general working capital [8] - The company anticipates closing a previously announced LIFE Offering private placement at a price of C$0.20 per unit for total gross proceeds of C$2,000,000 on or about August 6, 2025 [8] Group 4: Company Overview - MAX Power is focused on mineral exploration, particularly in the Natural Hydrogen sector, holding approximately 1.3 million acres (521,000 hectares) of permits for exploration [10] - The company aims to capitalize on the growing demand for Natural Hydrogen and has outlined high-priority initial drill target areas [10] - MAX Power also has a portfolio of properties in the U.S. and Canada, including a notable discovery at the Willcox Playa Lithium Project in Arizona [10]
MAX Power Announces Concurrent Private Placement to Bring Total Gross Proceeds to $4.45 Million
Newsfile· 2025-07-23 11:30
Core Viewpoint - MAX Power Mining Corp. is conducting an additional non-brokered private placement due to strong investor interest, aiming to raise total gross proceeds of up to $4.45 million for exploration and working capital [1][2][3]. Group 1: Private Placement Details - The concurrent offering will issue up to 5,681,818 units at a price of $0.22 per unit, each comprising one common share and one share purchase warrant [1]. - Each warrant allows the holder to purchase one share at an exercise price of $0.29, valid for 24 months from the issuance date [1]. - The total gross proceeds from this offering, combined with previously announced financing, is expected to reach $4.45 million [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for the exploration of Natural Hydrogen properties in Saskatchewan, as well as for working capital and general corporate purposes [3]. Group 3: Securities and Regulations - All securities issued will be subject to a statutory hold period of four months plus a day from the issuance date [3]. - The company may pay finders' fees to eligible finders in connection with the offering, in compliance with applicable securities laws [4]. Group 4: Company Overview - MAX Power is focused on North America's transition to decarbonization and is a first mover in the Natural Hydrogen sector, holding approximately 1.3 million acres of permits for exploration [8]. - The company has identified high-priority initial drill target areas and also holds properties in the U.S. and Canada focused on critical minerals [8].
REV Exploration to Become First-Mover Targeting Natural Hydrogen in Alberta
Thenewswire· 2025-05-16 14:15
Core Insights - REV Exploration Corp. is expanding its focus on Natural Hydrogen in Western Canada, particularly in Alberta, positioning itself as a first-mover in this sector [1][3] Industry Overview - Under Premier Danielle Smith's leadership, Alberta is developing a robust hydrogen sector, with the potential to become a "next trillion dollar industry" [2] - The Alberta Hydrogen Roadmap aims for over $30 billion in capital investments by 2030 to establish the province as a global supplier of clean hydrogen [6] Company Developments - REV Exploration has secured a significant land package with permits for Natural Hydrogen exploration in Saskatchewan, while also targeting opportunities in Alberta due to its advanced hydrogen economy [3][4] - The company is also advancing its gold properties in Northern Quebec's Chibougamau Gold Camp, indicating a diversified exploration strategy [6] Natural Hydrogen Potential - Alberta is already a leader in blue hydrogen production, and the exploration of naturally occurring hydrogen presents a complementary opportunity [4] - The geological features of Alberta, including a Precambrian basement rich in iron and uranium-bearing rocks, are conducive to Natural Hydrogen generation [5]
REV Exploration Acquires Permits In Saskatchewan For Natural Hydrogen Exploration
Thenewswire· 2025-05-15 23:10
Core Insights - REV Exploration Corp. has acquired permits in Saskatchewan covering 372,571 hectares for Natural Hydrogen exploration, indicating a strategic move into a rapidly emerging resource sector [1][2] - The CEO highlighted Saskatchewan's advanced policy framework for Natural Hydrogen exploration, which, combined with unique geology and a growing market, positions REV for significant opportunities in the coming months [2] - REV Exploration has appointed Independent Trading Group, Inc. as a market maker to enhance liquidity and contribute to a fair market for its shares on the TSX Venture Exchange [3][4] Company Overview - REV Exploration is a mineral exploration company with a portfolio that includes gold and battery metal properties in Quebec, as well as strategic Natural Hydrogen properties in Saskatchewan, all 100% owned by the company [6] - The company is focused on identifying commercial concentrations of Natural Hydrogen in North America, which is seen as a catalyst-rich opportunity for growth [2][6] Market Maker Appointment - The contract with Independent Trading Group, Inc. is on a month-to-month basis for a fee of CDN $6,000, with the first full month starting in April 2025 [4] - ITG is a Toronto-based dealer-member specializing in market making and liquidity provision, established in 1992 [5]