MAX Power Announces Special Meeting of Shareholders and Completion of Warrant Exercise for Total Proceeds of $3.75 Million

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REGINA, Saskatchewan, June 12, 2026 (GLOBE NEWSWIRE) — MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that Big Energy, an affiliate of Vietnam-based Bitexco, has completed the exercise of its 8,333,333 share purchase warrants for total proceeds to MAX Power of $3.75 million. This early exercise of warrants increases Big Energy’s total common share position in MAX Power to 24,999,999, representing 14.5% of the current issued and outstanding shares of the Company.

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Mr. Ran Narayanasamy, MAX Power CEO, commented:
“We’re delighted with Big Energy’s early exercise of these warrants as it underscores how they are aligned with our vision of immediately building on our exploration success and turning the Lawson Complex into the world’s first large-scale commercial discovery of Natural Hydrogen. As we just saw at the 2026 Global Energy Show in Calgary, interest in our Saskatchewan story and the global Natural Hydrogen movement continues to accelerate. We eagerly anticipate intense news flow to finish off the first half of 2026, and an extremely active summer.”   

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With Big Energy’s warrant exercise, MAX Power now has 172,284,657 shares outstanding as of June 12, 2026. Mr. Eric Sprott, through 2176423 Ontario Ltd., indirectly owns and exercises control over 30,984,979 common shares, now representing 17.98% of the issued and outstanding common shares (on a non-diluted basis). Big Energy, at 14.5% ownership, and REV Exploration (TSXV: REVX) with 6 million common shares or 3.5% ownership, are the next largest shareholders. Of the 40,146,840 warrants currently outstanding, Mr. Sprott indirectly owns or exercises control over 24,638,548 million warrants or 61.37% of the total.

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Special AGM Slated for August 20

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MAX Power will hold a special meeting of shareholders (the “Meeting”) on August 20, 2026 at 10:00 a.m. (Pacific Time) at 2 Research Drive, Regina, Saskatchewan, for the purpose of considering and, if thought advisable, approving the creation of a control person of the Company, as more particularly described in the management information circular (the “Circular”) prepared in connection with the Meeting.

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Purpose of the Meeting

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At the Meeting, disinterested shareholders will be asked to consider and, if thought advisable, approve an ordinary resolution (the “Control Person Resolution”) to approve the creation of Mr. Eric Sprott as a control person of the Company. Mr. Sprott, through 2176423 Ontario Ltd., has participated in private placements of MAX Power since the summer of 2026, including most recently on May 28, 2026 when he acquired 12,500,000 units consisting of one common share in the capital of the Company, at $2.00 per share, and one common share purchase warrant. Each warrant from that $25 million private placement entitles Mr. Sprott to acquire one common share at a price of $2.75 per share until two years after the date of issuance.