International Energy Partner Invests $5 Million in Canada’s Energy Future

The $5 million investment into MAX Power from a leading conglomerate in Vietnam has officially closed and launches an international collaboration focused on accelerating Natural Hydrogen development in Saskatchewan, positioning Canada at the forefront of a new clean energy frontier.

Video: Lawson – Canada’s First Big Step into Natural Hydrogen

SASKATOON, Saskatchewan, Dec. 17, 2025 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) is pleased to announce the closing of a non-brokered private placement (the “Offering”) of units of the Company for total gross proceeds of $5 million (CDN) in the first-ever large investment by a Vietnam-based company in Saskatchewan. This historic investment is part of a broader strategic partnership between MAX Power and Bitexco aimed at immediately accelerating the potential discovery and commercial development of Natural Hydrogen in Saskatchewan across Canada’s largest permitted land package (1.3 million acres) targeting this new primary clean energy source.

Mr. Ran Narayanasamy, CEO of MAX Power, commented: “We are on the cusp of another clean energy breakthrough in Saskatchewan and this new Vietnamese partnership, on top of the investment by Eric Sprott this past summer, strategically positions MAX Power to achieve its short-term and longer-term objectives. We welcome Big Energy, an affiliate of Bitexco, as a major new shareholder in MAX Power under its owner and Chairman, Mr. Vu Quang Hoi, a prominent Vietnamese business leader and Founder and Chairman of Bitexco. MAX Power’s Natural Hydrogen Project is Big Energy’s first investment in Canada.”

>> In Other News: Shrinking the CCS Energy Penalty: A Molten Borate Breakthrough Promises Viability for Hard-to-Abate Canadian Oil & Gas

Mr. Jim Nickel, Canada’s Ambassador to Vietnam, commented: “Canada is delighted to see this partnership between MAX Power and Bitexco as it reflects the strong spirit of increased collaboration between Canada and Vietnam for the benefit of both countries in terms of trade, investment and other initiatives. In addition, this partnership is driving the emergence of an entirely new sector in Saskatchewan – Natural Hydrogen - which is truly exciting and groundbreaking for Canada as we foster innovation around clean energy and leverage all the opportunities inherent in being an energy superpower.”

Private Placement Details

Pursuant to the Offering, MAX Power has issued 16,666,666 Units of the Company to the Big Energy Joint Stock Company (“Big Energy”) at a price of CDN $0.30 per Unit for aggregate gross proceeds of $5 million (refer to September 24, 2025 news release).

Each Unit of the Offering will consist of one common share in the capital of the Company (a “Share”) and one-half of one non-transferable common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each whole Warrant will entitle Big Energy to acquire one Share at an exercise price of $0.45 per Share for a period of 24 months from the date of issuance, subject to an acceleration provision.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Warrants are subject to an accelerated expiry clause. Under the acceleration provision, if the closing price of the Company’s common shares is $0.60 or higher for 10 consecutive trading days, the exercise period of the Warrants may be reduced to 60 days at the Company’s discretion by issuance of a press release within 7 days. If the Warrants remain subject to the statutory four-month-and-one-day hold period during this period, the Company may, if elected, choose to accelerate the exercise period subsequent to the expiration of such hold period. Any Warrants not exercised before the end of this 60-day period will expire and be void.

As part of the Offering, the Company and Big Energy have entered into an investor rights and shareholder agreement (the “Agreement”). The Agreement provides Big Energy with the right to participate in future financings of the Company on a pro rata basis, and provides certain board nomination rights, contingent on Big Energy maintaining certain ownership of the outstanding shares of the Company.

Board Appointment

MAX Power is pleased to announce that, subject to exchange approval, Dr. Phung Khac Hoan, General Director of Big Energy, will join the MAX Power Board of Directors.

Big Energy’s team has vast experience in the energy sector, from deep drilling to commercial production, with an increasing focus on clean energy as well as investment opportunities outside of Vietnam. Dr. Phung’s leadership, geological insight and production expertise will be invaluable to MAX Power as it advances its multi-well drilling program and works toward the commercialization of Natural Hydrogen. Dr. Phung earned his PhD in Petroleum Geology from the Hanoi University of Mining and Geology.

About Bitexco

Bitexco, celebrating its 40th anniversary, is one of the leading multi-disciplinary economic groups in Vietnam, operating in the fields of real estate, hydropower, construction, and infrastructure development, along with investments in the finance, mining and energy sectors. The Bitexco Financial Tower is a key feature of the Ho Chi Minh City’s skyline. Through four decades of pioneering, Bitexco continues to mark its boldness in the Vietnamese economy with many iconic projects in multiple core industries, significantly contributing to the sustainable development of the economy, society and culture.

Use of Private Placement Proceeds and Regulatory Approvals

The Company intends to use the net proceeds of the Offering for exploration and drilling of its Natural Hydrogen properties in Saskatchewan and for working capital and general corporate purposes. The Company has received all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including approval of the Canadian Securities Exchange (the “CSE”).

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Why This Matters To Investors

This partnership marks a rare and highly strategic alignment between a global energy conglomerate and all levels of government in Canada and Vietnam around a new clean energy class. This represents not just capital, but international validation, technical capability, and geopolitical relevance for MAX Power’s Natural Hydrogen strategy.

For investors, the transaction de-risks funding for near-term development, strengthens MAX Power’s credibility with major industry and sovereign partners, and elevates the Company from a domestic exploration story to an internationally backed clean energy platform. With Saskatchewan already a premier resource jurisdiction and now positioned at the center of Natural Hydrogen development, MAX Power is uniquely placed to benefit from accelerating global demand for secure, domestic, low-carbon energy infrastructure.

Recent Videos

Lawson – Canada’s First Big Step into Natural Hydrogen
https://www.google.com/search?q=https://www.youtube.com/watch?v=lTTOwMxz\_zo

MAX Power Leaps at Lawson
https://www.youtube.com/watch?v=Yr4Ha06\_\_Eg

Watch the Drill in Action
https://www.youtube.com/watch?v=eguNGAfdIek

MAX Power Saskatchewan Natural Hydrogen Documentary Video
https://www.maxpowermining.com/NaturalHydrogen-NewEra/

History in The Making at Lawson – Video Immediately Ahead of Drill Rig Setup
https://www.youtube.com/watch?v=BNHazk9Sy4E

Corporate Decks

MAX Power Natural Hydrogen Presentation
https://maxpowermining.com/Maxpower\_NaturalHydrogen\_Dec1\_2025.pdf

Bringing The Supply Chain Home: MAX Power’s Critical Minerals Presentation
https://maxpowermining.com/MAXPower\_CriticalMinerals\_Dec1\_2025.pdf

About MAX Power

MAX Power is an innovative mineral exploration company focused on North America’s shift to decarbonization. The Company is a first mover in the rapidly growing Natural Hydrogen sector where it has built a dominant district scale land position in Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large volume accumulations of Natural Hydrogen. Canada’s first-ever deep well specifically targeting Natural Hydrogen has been drilled by MAX Power at its Lawson target on the Genesis Trend, with analytic and completion test phases tunning concurrently after Natural Hydrogen and helium were confirmed in multiple horizons. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power’s U.S. subsidiary Homeland Critical Minerals Corp.

On behalf of the Board of Directors,

Ran Narayanasamy - CEOMAX Power Mining Corp.