M. Bruce Chernoff Updates Early Warning Reporting in Respect of Maxim Power Corp.

CALGARY, Alberta, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, M. Bruce Chernoff announces that he has acquired, through Alpine Capital Corp. ("Alpine"), an entity majority owned by him, ownership and control of an aggregate of 750,000 common shares ("Maxim Shares") of Maxim Power Corp. ("Maxim"), representing approximately 1.5% of the issued and outstanding Maxim Shares (based on 50,031,951 Maxim Shares issued and outstanding), at a price of $3.20 per Maxim Share for a total cash purchase price of $2,400,000. Mr. Chernoff (through Alpine) acquired the Maxim Shares from one third party (the "Seller") on November 11, 2021 pursuant to purchase and sale agreement (the "PSA").

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