Maxus Mining Secures Multi-Million Dollar Funding for Hydrogen Venture

Maxus Mining Corp. has announced a significant capital raise to accelerate its natural hydrogen exploration activities in Saskatchewan. The company confirmed a private placement on March 9, 2026, which is expected to generate gross proceeds of between 4 million and 20 million Canadian dollars.

Capital Allocation for Saskatchewan Projects

The net proceeds from this financing are earmarked specifically for advancing the Lawson Natural Hydrogen Discovery. Maxus Mining currently holds rights to approximately 1.3 million acres in the area and has applications pending for an additional 5.7 million acres. Planned work includes resource modeling for the Genesis Trend, seismic data acquisition, and confirmation drilling programs.

Terms of the Private Placement

Under the offering, up to 15.38 million units may be sold at a price of 1.30 CAD per unit. Each unit comprises one common share and one-half of one share purchase warrant. A full warrant entitles the holder to purchase an additional common share at 1.80 CAD for a period of 24 months following the closing date. Hampton Securities Limited is acting as the lead agent for the placement, which includes a 15 percent over-allotment option. The transaction is scheduled to close on or about March 20, 2026, subject to receiving all necessary regulatory approvals.

Shareholder Rights Plan Enacted

In a related corporate development, the company’s board of directors adopted a shareholder rights plan on the same day. Although effective immediately, the plan requires ratification by shareholders at the upcoming annual general meeting, anticipated to be held on April 17, 2026. Management clarified that the plan is a proactive measure designed to ensure adequate time for an independent valuation in the event of any future takeover bid. The company explicitly stated that the plan was not adopted in response to any specific offer currently known to the board.

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Market Context and Share Performance

Saskatchewan is increasingly viewed as a strategic jurisdiction for energy-related critical minerals. The growing institutional interest in the region was recently underscored by Denison Mines’ final investment decision for its Phoenix ISR uranium project, located in the same province.

Maxus Mining’s shares have declined approximately 30 percent over the past seven trading sessions, leaving the stock price trading well below its 52-week high recorded in January 2026. Market observers suggest that the successful completion of this financing could help restore investor confidence, though tangible results from the drilling campaigns are not expected until later in the 2026 exploration season.

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