CALGARY, Alberta, May 26, 2020 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") 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 2,500,000 common shares of the Corporation (the "Shares"). As at May 22, 2020, MAXIM had 50,061,831 Shares issued and outstanding. As such, the NCIB represents approximately 5% of MAXIM's issued and outstanding Shares as at May 22, 2020. 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 7,894 Shares, which equates to 25% of MAXIM's average daily trading volume of 31,578 Shares for the six months ended April 30, 2020. The Corporation may make one block purchase per calendar week which exceeds the daily repurchase restrictions.
Maxim Power Corp. Announces TSX Acceptance of Normal Course Issuer Bid
May 26, 2020
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