Maxim Power Corp.

Maxim Power Corp.

July 31, 2008 19:10 ET

Maxim Power Corp.: Share Ownership Notification

CALGARY, ALBERTA--(Marketwire - July 31, 2008) - M. Bruce Chernoff ("Chernoff"), through an entity in which he owns a majority beneficial interest, has acquired ownership of 10,628,885 common shares of Maxim Power Corp. (TSX:MXG) ("Maxim") from an entity substantially owned by him. The transaction was pursuant to a purchase and sale agreement dated May 27, 2008. All conditions relating to the purchase and sale agreement have now been met and the transaction has been completed.

Mr. Chernoff, directly or indirectly through entities controlled by or beneficially owned by him, has ownership or control of 11,547,585 common shares of Maxim. Such Maxim shares represent, in aggregate, approximately 21.1% of the outstanding shares of Maxim.

The transaction was made for investment purposes. Mr. Chernoff may, subject to market conditions and in accordance with applicable securities laws, acquire additional securities of Maxim in the future.

An early warning report respecting this transaction will be filed and can be obtained by contacting M. Bruce Chernoff.

Contact Information

  • M. Bruce Chernoff
    2100, 330 - 5th Avenue SW
    Calgary, Alberta T2P 0L4
    (403) 266-1717
    (403) 266-1438 (FAX)