Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

December 16, 2010 16:51 ET

Maxim Power Corp. Announces $7 million Expansion of Credit Facility

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2010) - Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) announced today that it increased its credit facility with the Bank of Montreal. The credit facility has been amended by the addition of Facility D, which is a $7 million revolving credit facility. MAXIM anticipates using this facility to support credit requirements related to its Mine No. 14 project and other development initiatives. This facility is available to MAXIM until April 30, 2011.

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 44 power plants in western Canada, United States and France, having 809 MW of electric and 117 MW of thermal net generating capacity. Approximately 80% of MAXIM's current portfolio is comprised of clean burning natural gas, high efficiency cogeneration, waste heat and landfill gas fuelled generation. 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.

Contact Information

  • Maxim Power Corp.
    John R. Bobenic
    President and CEO
    (403) 750-9300
    or
    Maxim Power Corp.
    Michael R. Mayder
    Vice President, Finance and CFO
    (403) 750-9311
    www.maximpowercorp.com