Homeland closes $1.1M lithium deal, giving MAX Power a 47% stake
What's the deal? Homeland Critical MineralsDealroom has a profile for this one. Try Dealroom → has completed its acquisition of MAX Power Resources LLCDealroom has a profile for this one. Try Dealroom →, a subsidiary of MAX Power Mining Corp.Dealroom has a profile for this one. Try Dealroom →, gaining full ownership of the Willcox Playa Lithium Project in southeast Arizona. Homeland paid with 11,000,000 common shares at a deemed price of $0.10 each — a total value of about $1.1 million.
What's changing? The share-based deal leaves MAX Power holding roughly 47.29% of Homeland's outstanding common shares. Before closing, MAX Power owned none. The purchase was negotiated at arm's length, with no finder's fees or commissions payable.
What's the endgame? The Willcox Project sits on the eastern side of the 50-square-mile Willcox Playa, where MAX Power confirmed a drilling discovery of near-surface lithium-rich clays in early 2024. Homeland says it aims to unlock value from the site and pursue other US critical mineral opportunities.
New faces at the top: Homeland named Mansoor Jan chief executive officer and Jeremy Polmear chief financial officer, effective immediately. Cameron MacDonald steps down as CEO and Scott Hurd as CFO. Polmear and Chad Levesque join the board, while MacDonald and Colin Christensen depart.
Why now? Homeland points to an improving lithium market and a US administration focused on developing critical minerals. A special shareholder meeting has been called to elect a new board, with details to follow.
The signal: The deal reflects a push to build out domestic lithium supply as Washington prioritises critical minerals, with junior miners consolidating assets to position for a recovering market.
Read more: Stockwatch
Image credit: Generated with Gemini
