Maxim Power Corp. - Maxim Power Corp. Enters into a Credit Agreement with ATB Financial and Provides Update on M2 Project

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Archive: ‘News’ Category

December 19, 2019 - News

Maxim Power Corp. Enters into a Credit Agreement with ATB Financial and Provides Update on M2 Project

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) announced today that it, and certain of its subsidiaries, entered into a credit agreement with ATB Financial (“ATB”) for a thirty-five month term that provides for senior debt financing of up to $44 million to support financing requirements of MAXIM’s 204 MW power plant located near Grande Cache, Alberta (“M2”) plus a cash collateralized letter of credit facility of $8 million to replace MAXIM’s current outstanding letters of credit for equal amounts.

November 7, 2019 - News

Maxim Power Corp. Announces 2019 Third Quarter Financial and Operating Results

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) announced today the release of financial and operating results for the third quarter ended September 30, 2019.

October 15, 2019 - News

Maxim Power Corp. Announces the Voting Results of Special Meeting of Shareholders and Closing of Convertible Loan

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) is pleased to announce that at a special meeting of shareholders held today, it received the approval of disinterested shareholders for its previously announced $75 million, one-year, 12% per annum, revolving, secured convertible loan (the “Convertible Loan”) between the Corporation and certain of its subsidiaries, as borrowers, and Alpine Capital Corp. (“Alpine”) and Prairie Merchant Corporation (“Prairie Merchant” and together with Alpine the “Lenders”) as lenders.

October 3, 2019 - News

Maxim Power Corp. Announces Amendments to Convertible Loan Agreement

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) announced today that it, and certain of its subsidiaries, have entered into an agreement to amend the previously announced $75 million, one-year, 12% per annum, revolving, secured convertible loan dated September 10, 2019 between the Corporation and those subsidiaries, as borrowers, and the lenders thereto (the “Convertible Loan”).

September 25, 2019 - News

Maxim Power Corp. Provides Investor Update

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) today provided an update of its operating, development and corporate activities.

September 10, 2019 - News

Maxim Power Corp. Enters into Loan Agreements to Finance its M2 Development Project

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) announced today that it, and certain of its subsidiaries, entered into two credit agreements that collectively provide for $75 million to fully fund the construction and development of MAXIM’s 204 MW power plant located near Grande Cache, Alberta (“M2”).

August 27, 2019 - News

Maxim Power Corp. Enters into Engineering, Procurement, and Construction Agreement for the Completion of the M2 Development Project

CALGARY, ALBERTA – Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX: MXG) announced today that it has entered into an Engineering, Procurement and Construction (“EPC”) contract for the completion of its 204 MW natural gas-fired power plant located near Grande Cache, Alberta (“M2”).

August 7, 2019 - News