Maxim Power Corp. Announces Partial Settlement of Claim for Compensation Resulting in $6.5 million of Proceeds

CALGARY, Alberta, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announced today that it has successfully settled a portion of its previously disclosed claim for compensation against third-parties in relation to the non-injury fire on September 30, 2022, which caused damage to Milner 2’s (“M2”) air inlet filter house (the “Claim”). The Claim was filed in 2024 against multiple third parties and this settlement is with one of those parties. MAXIM’s portion of the settlement, net of fees, is approximately $6.5 million. The amount represents the maximum net amount available from the insurance policy of the third party who has agreed to settle. MAXIM anticipates receipt of the settlement proceeds in the fourth quarter of 2025.

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