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Max Power Mining Rises to a Record After Eric Sprott Raises Stake to 19.5%

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Max Power Mining (MAXX.CN) shares are trading at a record high after mining investor Eric Sprott nearly doubled his stake in the company to 19.5% on a non-diluted basis. the company said Monday.

Sprott acquired four-million units at C$2.50 each in a private placement, for C$10 million proceeds. Each unit consists of a share and a two-year warrant to buy a share at C$3.25.

Proceeds will be used to advance the drill program at the Lawson Complex in Saskatchewan.

Max Power shares were last seen up C$0.22, or 6.9%, to C$2.97 on the Canadian Securities Exchange. The shares are up 950% over the past 12 months.

Price: $2.96, Change: $+0.21, Percent Change: +7.64%

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