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Maxim Power Corp. Announces Acceptance of Resignation of Director

/ -- CALGARY, ALBERTA -- (Marketwired) -- 06/03/16 -- Maxim Power Corp. ("MAXIM" or the "Company") (TSX: MXG) announced today that subsequent to the Company's annual and special meeting of shareholders held on June 2, 2016 (the "Meeting"), the Company has received the resignation of Mr. John R. Bobenic as a director of the Company. At the Meeting, Mr. Bobenic did not receive a majority of votes "FOR" his election as a director at the Meeting, and per the Company's Majority Voting Policy, Mr. Bobenic has tendered his resignation as a director of the Company, which resignation was subject to acceptance or rejection by the Board of Directors of the Company in accordance with the terms of such Majority Voting Policy. After careful consideration, the Board of Directors of the Company has decided to accept such resignation. The Board of Directors of the Company wishes to thank Mr. Bobenic for his years of service as a director.


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 39 power plants in Alberta, the United States and France, having 778 MW of electric generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at

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.

Maxim Power Corp.
Michael R. Mayder
Senior Vice President, Finance and CFO
(403) 750-9311