Transaction finalized, shares distributed
MAX Power Mining Corp. has completed the sale of its Arizona-based lithium asset, known as the Willcox Playa Lithium Project, to Homeland Critical Minerals Corp. As part of the agreement, MAX Power received 11 million common shares of Homeland in exchange for the asset. The deal, first announced in June 2026, was approved by the Canadian Securities Exchange (CSE). MAX Power transferred all equity interests in its wholly owned subsidiary, MAX Power Resources LLC, which is registered in Arizona and operates the lithium project.
Strategic pivot toward hydrogen focus
With the asset sale completed, MAX Power is redirecting its efforts toward its natural hydrogen initiatives in Saskatchewan. The company’s primary focus now centers on the Lawson Complex and the larger Genesis Trend, which it believes could become a major hub for large-scale natural hydrogen production. The decision to divest the lithium asset allows MAX Power to streamline operations and concentrate on what it calls its most promising opportunities.
Ran Narayanasamy, CEO of MAX Power, emphasized that the sale enables the company to better allocate time, money, and attention toward natural hydrogen development. He also noted that the move is well timed, as the lithium market is showing signs of improvement and the U.S. government is placing increased emphasis on critical minerals. The sale allows MAX Power to remain active in the lithium space indirectly by retaining a major stake in Homeland.
Willcox discovery and future plans
In early 2024, MAX Power reported a significant discovery at the Willcox Project: near-surface lithium-rich clays over a broad section of the 50-square-mile playa. This finding was made along the eastern part of the area. However, much of the remaining site is currently under lease by the U.S. Homeland has already begun planning for a near-term listing on the TSX Venture Exchange, which it hopes will open new avenues for growth.
As a result of the asset transfer, MAX Power now holds 11 million shares of Homeland, which constitutes just under half of the company’s issued shares. This stake ensures MAX Power maintains a strong connection to the potential success of the Willcox Project and Homeland’s broader business. Homeland plans to expand its operations in the U.S. critical minerals sector, including exploring new mineral opportunities.
The value of the 11 million shares was set at approximately $1.1 million CAD, and the transaction was negotiated on an arm’s-length basis, meaning no conflicts of interest were involved. Additionally, no finder’s fees were paid for the deal. The Homeland shares are subject to statutory restrictions, including a four-month holding period before they can be sold or transferred.
MAX Power also mentioned that it may consider various options for its Homeland shares in the future. One possibility includes distributing some or all of the shares to MAX Power’s shareholders, provided it meets corporate, securities, and regulatory requirements. This approach could offer additional value to stakeholders.
The sale of the Arizona lithium asset marks a major shift in MAX Power’s strategy, reinforcing its commitment to natural hydrogen exploration in Saskatchewan. Meanwhile, Homeland is expected to build on the discovery at Willcox and take advantage of the growing demand for critical minerals in the U.S. market. Both companies believe the deal provides a win-win scenario, with MAX Power able to focus on its core goals and Homeland positioned for future growth.