Maxim Power Corp. Closes Sale of the Alberta Power Project
February 29 2012 - 6:37PM
Marketwired
Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG)
announced today that it has closed the sale of its 26 MW Alberta
Power Project facilities to AltaGas Pipeline Partnership for $12.95
million. The agreement to sell the assets was previously announced
on January 25, 2012. MAXIM will utilize the proceeds from this sale
to advance its development projects in Alberta - the 190 MW
Deerland peaking station, the 500 MW Milner Expansion project, and
the Mine 14 metallurgical coal mine project.
MAXIM also advises that the Corporation will be reporting its
results for 2011 on March 22, 2012, with the investor conference
call to be scheduled the following week. Details of the conference
call will be provided on March 22nd.
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 41 power plants in western Canada, United States
and France, having 788 MW of electric and 117 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.
Contacts: Maxim Power Corp. John R. Bobenic President and CEO
(403) 263-3021 Maxim Power Corp. Michael R. Mayder Vice President,
Finance and CFO (403) 263-3021
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