Saskatchewan
New CEO Mr. Mansoor Jan will be in Saskatchewan and British Columbia the week of November 18, 2024, for a series of meetings with key stakeholders and various parties, including Senior Strategic Advisor Mr. Neil McMillan, aimed at finalizing an advanced strategy for Saskatchewan where permit applications for claims targeting Natural Hydrogen in the southeast part of the province were submitted over the summer (“Rider Project”). Initial gas probe sampling covering certain target areas in the southeast has been carried out with the Company awaiting results and confirmation of permit applications. MAX Power is also reviewing additional areas of interest in the province.
Mr. Jan commented, “My broad analysis of Saskatchewan is that the potential for commercial concentrations of Natural Hydrogen extends well beyond the highly prospective southeast part of the province. My goal is to move expeditiously over the coming weeks to get us to the drill-ready stage as rapidly as possible, so that MAX Power by year-end or early 2025 becomes the first company in Canada to drill specifically for a Natural Hydrogen discovery using the best science in the industry. I’ve seen first-hand the Natural Hydrogen boom in Southern Australia. In Saskatchewan we have the right geology, the right policy framework and the right team to make big things happen and build shareholder value in the process.”
Mr. Jan concluded, “We are all-in on Saskatchewan with an immediate plan to expand our opportunities there. In addition to this key focus, we will continue to explore ways to monetize opportunities with respect to our initiatives related to Ontario, Quebec and Texas as outlined in the Company’s October 3, 2024 news release.”
Ontario
MAX Power has staked 312 claims (6,463 hectares) in Northern Ontario on five separate properties that have several features that make them prospective for Natural Hydrogen exploration. The Company plans to complete a reconnaissance program in the near-term on these properties. Investors are reminded that in Ontario, these staked claims are mineral claims under current provincial legislation and do not include the rights for exploration and development of hydrogen gas.
Quebec
MAX Power has staked 255 claims (10,328 hectares) in Quebec on six separate properties also prospective for accumulations of Natural Hydrogen gas. The Company plans to complete a reconnaissance program in the near-term on these properties. Investors are reminded that in Quebec, these staked claims are mineral claims under current provincial legislation and do not include the rights for exploration and development of hydrogen gas.
ARPA – E request for information (RFI)
Advanced Research Projects Agency-Energy (ARPA-E), which is overseen by the Department of Energy (DOE) in the United States, has sent a request for information (RFI) to the Company aimed at advancing geologic hydrogen resource exploration. The RFI partially references the following:
“(ARPA-E) program is focused on evaluating novel approaches to: 1) explore for naturally occurring subsurface hydrogen resources or geologic targets for hydrogen stimulation, and 2) develop methodologies to determine the recoverable reserves of hydrogen from natural accumulation or available through stimulation. These approaches will accelerate the discovery and economic evaluation of these resources and inform management steps needed to harness them.”
The RFI is not exclusive to MAX Power. However, the Company has been contacted to provide voluntary input on geological hydrogen exploration methods. This information would provide input for ARPA-E’s formulation of future research programs. MAX Power along with its strategic partners are considering participation in the RFI.
Marketing Agreements Update
The Company has approved the extension of its engagement with Leit Media Ltd. (“Leit”) to December 31, 2024, originally effective June 25, 2024. The Company has extended the initial 3-month term of the engagement through to the end of 2024 and has paid 165,000 euros for this term of agreement as consideration for Leit’s Services. The Company may elect to renew or extend the engagement at any point during the term. The marketing services will include the preparation of articles and coverages on several financial platforms and newsletters. The services will also include the translation and distribution of news releases in Germany. LEIT’s address is Flat 285, 61 Praed St., London, W2 1NS, United Kingdom (phone: 44-20-3883-9398). Consideration offered to Leit does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with Leit.
The Company has approved the extension of its engagement with Sideways Frequency LLC (“SFLLC”) to December 31, 2024, originally effective June 25, 2024. The Company has extended the initial 2-month term of the engagement through to the end of 2024 and has paid $70,000 USD for this term of agreement as consideration for SFLLC’s Services. The Company may elect to renew or extend the engagement at any point during the term. The marketing services will include, but are not limited to, email campaigns, native advertising, display ads, lead generation, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. SFLLC’s address is1389 Center Drive, Suite 200, Park City, Utah, 84098, [email protected]. Consideration offered to SFLLC does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with SFLLC and Mr. Wesley De Souza, CEO of SFLLC.
