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MXG Maxim Power Corp

5.08
0.03 (0.59%)
20 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Maxim Power Corp TSX:MXG Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.03 0.59% 5.08 5.05 5.09 5.09 5.06 5.06 3,500 22:00:00

Maxim Power Corp. Enters Agreement to Sell Hartland Landfill Project

20/08/2013 9:52pm

Marketwired Canada


Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") announced today that
it has agreed to sell the 1.6 MW Hartland Landfill Project to the Capital
Regional District ("CRD") for $1.8 million including the termination of a lease
agreement with a value of $0.9 million, resulting in net sales proceeds of $0.9
million. The CRD is the regional government for the 13 municipalities and three
electoral areas that are located on the southern tip of Vancouver Island.


The Hartland Landfill Project is a landfill gas generation project in the CRD,
located approximately 14 kilometers northwest of Victoria, BC. The project was
commissioned in February 2004 to utilize the gas produced by the CRD landfill to
generate electricity which is delivered to BC Hydro. 


The sale is expected to close during the third quarter of 2013, subject to
customary closing conditions. MAXIM will utilize the proceeds from the sale for
strategic corporate purposes.


About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer that acquires
or develops, owns and operates innovative and environmentally responsible power
and power related projects. MAXIM currently owns and operates 41 power plants in
western Canada, the United States and France, having 804 MW of electric
generating capacity. As announced on August 6, 2013, MAXIM has entered into an
agreement to sell 100% of its ownership interest in Maxim Power (USA), Inc.
("MUSA"). MUSA owns five power plants which collectively have 446 MW of electric
generating capacity and represent MAXIM's entire investment in the United
States. The transaction is expected to close in Q4 2013. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Maxim Power Corp.
John R. Bobenic
President and CEO
(403) 750-9300


Maxim Power Corp.
Michael R. Mayder
Vice President, Finance and CFO
(403) 750-9311
www.maximpowercorp.com

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