Maxim Power Corp. Announces the Receipt of the Second Line Loss Proceedings Payment

Mar 01, 2021

CALGARY, Alberta, March 01, 2021 (GLOBE NEWSWIRE) -- Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX:MXG, Financial) announced today that the Corporation has received the second of three scheduled Line Loss Proceeding payments in the sum of $27.9 million from the Alberta Electric System Operator (“AESO”), relating to the years 2010 to 2013. The Corporation previously announced on January 5, 2021 the receipt of $6.4 million for the first Line Loss payment, relating to the historical years 2014 to 2016, for a total of $34.3 million of payments received to date. In addition, the Corporation is expecting to receive a third payment on May 31, 2021, in the amount of approximately $18.6 million related to the years 2006 to 2009, based on information currently available on the public record.

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