MAX Power Mining has sold its Arizona lithium subsidiary to Homeland Critical Minerals, a Canadian exploration company.
The company said it entered into a share purchase agreement dated June 8. Under the terms of the agreement, Homeland purchased all outstanding equity interests of MAX Power Resources for 11 million shares, representing just under 50% of Homeland’s currently issued and outstanding shares. The shares are intended to have an aggregate fair market value of roughly US$1.1 million.
Drilling at the Wilcox Playa lithium project discovered near-surface lithium-rich clay in early 2024. Additional targets on the property remain untested.
Ran Narayanasamy, the CEO of MAX Power, said the new ownership structure “creates value on multiple fronts by allowing MAX Power shareholders to participate in both opportunities while enabling management to concentrate capital.”
The company added that the sale will allow MAX Power to remain focused on its ongoing natural hydrogen discovery projects, simplifying its “strategic narrative.” MAX Power’s Lawson complex north of Moosejaw, Sask. is the company’s primary focus, key to what it calls the global birthplace of large-scale natural hydrogen commercialization.
The transaction is expected to close on June 17, 2026.
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