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FINWIRES

Max Power Mining Agrees to Sell Its Unit to Homeland Critical Minerals

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Max Power Mining (MAXX.CN) on Monday agreed to sell its MAX Power Resources LLC unit to closely held Homeland Critical Minerals in exchange for shares worth $1.1 million.

The company said that through its ownership of 11-million Homeland shares, just under a 50% stake in Homeland, MAX Power will maintain "significant exposure to the future success of the Willcox project and Homeland's broader business strategy".

MAX Power Resources LLC owns the Willcox Playa Lithium project and is a limited liability company in Arizona. The deal is expected to close on or about June 17, or such other date as the parties may agree.

Homeland intends to pursue a listing as soon as possible on a Canadian stock exchange, it said.

Shares of the company were last seen unchanged at $2.32 on the Canadian Securities Exchange.

Price: $2.31, Change: $-0.01, Percent Change: -0.43%

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