MXG Maxim Power Corp

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Maxim Power Corp. (TSX:MXG) announced today that it has entered into an
agreement with a syndicate of underwriters led by Cormark Securities Inc., and
including BMO Capital Markets and First Energy Capital Corp. pursuant to which
the underwriters have agreed to purchase, on a private placement basis,
10,000,000 common shares of Maxim at a price of $6.50 per common share for
aggregate gross proceeds of $65,000,000. The Underwriters will also have the
option to purchase up to an additional 1,000,000 common shares at a price of
$6.50 per common share at any time until the closing date. In the event that the
option is exercised in full, the gross proceeds of the offering shall be
$71,500,000.


The net proceeds from the offering will be used to finance the acquisition of
the 170 megawatt Pittsfield Generating Station, development costs related to the
190 megawatt Deerland Peaking Station, and for general corporate purposes.


The financing is expected to close on or about July 10, 2008.

About Maxim Power Corp. ("MXG")

Based in Calgary, Alberta, MAXIM is an independent power producer, which
acquires or develops, owns and operates innovative and environmentally
responsible power plants. MAXIM now owns and operates 33 power plants in Western
Canada, United States and France, having 584 MW of electric and 132 MW of
thermal generating capacity. Upon closing the acquisition of the Pittsfield
Power Plant, MAXIM will own 34 power plants having 754 MW of electric and 132 MW
of thermal generating capacity. MAXIM will continue to execute on its strategy
as an independent power producer and is targeting significant growth through
acquisitions and development of power projects which utilize hydrocarbon based
fuels and renewables in the markets of Western Canada, United States and France.
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 common shares offered have not been and will not be registered under the
United States Securities Act of 1933, as amended and may not be offered or sold
in the United States absent registration or an applicable exemption from the
registration requirement. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.

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