AINewsBreaks – MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) Closes $10 Million Private Placement with Eric Sprott
This article has been disseminated on behalf of MAX Power Mining and may include paid advertising. MAX Power Mining (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed its strategic non-brokered private placement with Eric Sprott for gross proceeds of $10 million, consisting of 4 million units priced at $2.50 each. The company intends to use the net proceeds to advance its commercial validation drill program at the Lawson Complex and for general corporate purposes. Following the placement, Sprott indirectly owns and controls approximately 19.5% of MAX Power common shares on a non-diluted basis or 30.5% on a partially diluted basis, assuming exercise of his warrants.…