Max Power reports early warrant exercise worth $6m by major investor Eric Sprott
Natural hydrogen explorer Max Power Mining Corporation has secured another $6-million of investment from Canadian billionaire investor Eric Sprott after he exercised 12.1-million warrants of the company.
Prior to the exercise, Sprott beneficially owned, directly or indirectly, an aggregate 34.9-million shares of Max Power, representing a shareholding of 19.32%, which has now grown to 24.35%, or 47.1-million shares.
Sprott holds an additional 16.5-million warrants.
Max Power CEO Ran Narayanasamy says the board appreciates Sprott’s substantial early warrant exercise and continued strong vote of confidence in the company.
“The early warrant exercise further accelerates our commercial validation drill programme, with fresh updates from the field expected shortly.
“We are ahead of schedule, under budget, and delineating a very large natural hydrogen system as we triangulate the first deposit at the Lawson Complex.”