Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

July 09, 2007 19:12 ET

MAXIM Announces Expanded Credit Facility With the Bank of Montreal

CALGARY, ALBERTA--(Marketwire - July 9, 2007) - Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) is pleased to announce that it has entered into a new credit agreement with the Bank of Montreal ("BMO"). The agreement provides for term debt financing of $35 million, a $10 million revolving facility for general corporate purposes, and a $2.5 million risk management facility to support treasury requirements.

The term facility will be used principally to support MAXIM's growth initiatives and pay out existing debt. The term facility has a five-year term, bears interest at floating rates, and requires amortization of principal over eight years. The existing BMO credit facility and certain other obligations will be retired, leaving capacity of $15 million under the term facility to support Maxim's growth initiatives.

ABOUT MAXIM

Based in Calgary, Alberta, MAXIM is an Independent Power Producer, which acquires or develops, owns and operates innovative and environmentally responsible power projects. MAXIM currently owns and operates 30 power plants in western Canada, United States and France, having 482 MW of electric and 121 MW of thermal net generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.

Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward looking statements as required pursuant to applicable securities laws.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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