Maxim Power Corp. Announces TSX Acceptance of Normal Course Issuer Bid

CALGARY, Alberta, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announced today that it has received approval from the Toronto Stock Exchange ("TSX") to proceed with a normal course issuer bid ("NCIB"). Under the NCIB, the Corporation may purchase for cancellation up to 2,529,885 common shares of the Corporation (the "Shares"). As at September 3, 2024, MAXIM had 50,597,708 Shares issued and outstanding. As such, the NCIB represents approximately 5% of MAXIM's issued and outstanding Shares as at September 3, 2024. The actual number of Shares that may be purchased for cancellation under the NCIB and the timing of any such purchases will be determined by MAXIM, subject to a maximum daily purchase limitation of 1,382 Shares, which equates to 25% of MAXIM's average daily trading volume of 5,530 Shares for the six months ended August 31, 2024. The Corporation may make one block purchase per calendar week which exceeds the daily repurchase restrictions.

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