Maxim Power Corp. Announces Purchase of 25 MW of Firm Financial Alberta Power for 2013
CALGARY, ALBERTA--(Marketwire - Nov. 20, 2012) - Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") announced today that it has entered into a 25 MW, one-year firm financial swap agreement with an undisclosed third party. This swap agreement provides a hedge for MAXIM's existing Alberta generation portfolio and will allow MAXIM to participate in the day-ahead and month-ahead Alberta power markets. MAXIM views the current forward prices for the 2013 Alberta power market as an ideal entry point considering the province's supply/demand fundamentals and anticipated volatility.
Based in Calgary, Alberta, MAXIM is an independent power producer, which acquires or develops, owns and operates innovative and environmentally responsible power and power related projects. MAXIM currently owns and operates 40 power plants in western Canada, the United States and France, having 788 MW of electric and 111 MW of thermal net generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.
Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward-looking statements as required pursuant to applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Maxim Power Corp.
John R. Bobenic
President and CEO
Maxim Power Corp.
Michael R. Mayder
Vice President, Finance and CFO