Maxim Power Corp. announces a new board member and
CALGARY, Alta., June 14, 2022 (GLOBE NEWSWIRE) — Maxim Power Corp. (“MAXIM“or the”society“) (TSX: MXG) is pleased to announce the appointment of Ms. Andrea Whyte to the Board of Directors of the Company, effective June 14, 2022. Ms. Whyte is currently a Partner at Osler, Hoskin & Harcourt LLP where she practices the law for more than 20 years in the areas of mergers and acquisitions, corporate finance and corporate governance.
The Board of Directors would also like to thank Johann Polz, a MAXIM director who did not stand for re-election at the Meeting and would like to thank Mr. Polz for his years of service to MAXIM.
Board Election Results
MAXIM held its 2022 Annual General and Special Meeting of Shareholders on June 14, 2022 (the “Meeting”). A vote was taken at the meeting regarding the election of the directors who will serve until the next annual meeting of shareholders. According to proxies received and ballots cast, the following directors were elected at the meeting to serve until the next annual meeting of shareholders or until their successors are elected or appointed, unless this position is vacant sooner in accordance with the regulations of the company:
| Candidate | #Voice For |
% of vote For |
#Voice Withheld |
% of votes Withheld |
| Wiley D. Auch | 38 107 539 | 99.72 | 106,689 | 0.28 |
| Mr. Bruce Chernoff | 37,797,690 | 98.91 | 416 538 | 1.09 |
| Michael Mayder | 37,794,615 | 98.90 | 419 613 | 1.10 |
| Brad Wall | 38,079,087 | 99.65 | 135 141 | 0.35 |
| Andrea Whyte | 38 107 189 | 99.72 | 107,039 | 0.28 |
| W.Brett Wilson | 37,798,015 | 98.91 | 416 213 | 1.09 |
In addition to the foregoing, all unallocated stock options issuable under the Company’s stock option plan have been approved and authorized at the meeting up to 14 June 2025, as described in the Company’s Information Circular dated May 2, 2022. The results of the vote by ballot were as follows:
| vote for | % of votes for | Votes against | % of votes against | ||
| 37,774,851 | 98.85 | 439 377 | 1.15 | ||
For complete voting results with respect to the Meeting, please see MAXIM’s Voting Results Report which will be available under the company’s profile on SEDAR at www.sedar.com.
About MAXIME
Based in Calgary, Alberta, MAXIM is one of Canada’s largest truly independent power producers. MAXIM is now fully focused on energy projects in Alberta. Its main asset – the 204 MW HR Milner (“M2”) Generating Station, in Grande Cache, Alberta, is a state-of-the-art natural gas-fired power plant that was commissioned in the second quarter of 2020. MAXIM is currently increasing the capacity of M2 to approximately 300 MW and will simultaneously achieve plant efficiency improvement by investing in heat recovery combined cycle technology. Additionally, MAXIM continues to explore other development options in Alberta, including its currently licensed gas-fired generation projects and the licensing of its wind power generation project. MAXIM trades on the TSX under the symbol “MXG”. For more information about MAXIM, visit our website at www.maximpowercorp.com.
For more information, please contact:
Bob Emmott, President and Chief Operating Officer, (403) 263-3021
Kyle Mitton, CFO and Vice President, Corporate Development, (403) 263-3021
Statements in this release that describe MAXIM’s intentions, expectations or forecasts, or that relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that may cause MAXIM’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed 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 in accordance with applicable laws. applicable securities.