Homeland Critical Minerals Corp. has completed its acquisition of MAX Power Resources LLC, securing a 100% interest in the Willcox Playa Lithium Project in southeast Arizona.

Under the completed transaction, Homeland issued 11,000,000 common shares to MAX Power Mining Corp. at a deemed price of $0.10 per share. The consideration shares carry an aggregate fair market value of approximately $1.1 million. Following the closing of the arm’s-length agreement, MAX Power holds approximately 47.29% of the issued and outstanding common shares in Homeland. No finder’s fees or commissions were payable on the transaction.

MAX Power previously confirmed a drilling discovery of near-surface lithium-rich clays across an extensive area along the eastern side of the 50-square-mile Willcox Playa project land package.

“The Willcox Project is a cornerstone asset for Homeland and an important first step in our strategy of acquiring and advancing critical mineral assets in the United States. We look forward to working with MAX Power, which will remain a significant shareholder of the Company, as we advance the project.”

— Mansoor Jan, Chief Executive Officer

Alongside the ownership change, Homeland announced executive leadership updates. Mansoor Jan has taken over as Chief Executive Officer, and Jeremy Polmear has been appointed Chief Financial Officer. Polmear and Chad Levesque have also joined the board of directors. They replace outgoing executives Cameron MacDonald and Scott Hurd, while MacDonald and Colin Christensen have stepped down from the board.

Homeland has called a special meeting of shareholders to consider matters including the election of a new board of directors. Details regarding the meeting date and location will be released in due course.

Read the full announcement: Homeland Critical Minerals Provides Corporate Update