Eric Sprott Pours $25M Into MAX Power Mining For Natural Hydrogen Expansion

Mentioned:

Eric Sprott believes in the future of natural hydrogen. Which is exactly why he’s pouring tens of millions of dollars into a publicly traded company in Canada.

What’s happening:

Billionaire mining financier and entrepreneur Eric Sprott is making a strategic equity investment of $25M CAD into MAX Power Mining (CSE: MAXX)

By the numbers:‍

MAX Power Mining will issue 12.5M common shares at a price of $2.00 CAD per share and 12.5M warrants with a exercise price of $2.75 CAD per share as part of the new financing

Why it matters:‍

MAX Power Mining is one of the first publicly traded companies in North America to confirm a subsurface natural hydrogen system after the successful testing of a well drilled near Central Butte, Saskatchewan which is widely considered to be Canada’s first ever natural hydrogen drilling discovery

Going deeper:‍

MAX Power Mining has publicly stated that they plan to use the new growth capital to complete follow up drilling at their flagship Lawson project as well as drilling additional targets located in Saskatchewan and acquiring more permitted ground
The City of Moose Jaw and MAX Power Mining also just recently made waves when they formed a new partnership to advance strategic opportunities to commercialize natural hydrogen within the Regina-Moose Jaw Industrial Corridor

The intrigue:‍

MAX Power Mining’s Lawson well returned hydrogen concentrations of 286,000 parts per million as well as free glowing gas to the surface and MAX Power Mining holds 1.3M acres of permitted land across Saskatchewan for natural hydrogen exploration and drilling

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