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Maxim Power Corp. Announces Interim CFO Position Toronto Stock Exchange: MXG

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CALGARY, Alberta, September 15, 2020 (GLOBE NEWSWIRE) – Maxim Power Corp. (“MAXIM” or the “Company”) (TSX: MXG) announced today that Hansine Ullberg is no longer the Chief Financial Officer of the Company. Kim Karran, Corporate Secretary of the Company, will serve as interim CFO until a successor is appointed. Ms. Karran joined MAXIM in 2000 and is currently responsible for numerous corporate matters at MAXIM, including human resources and corporate governance. Ms. Karran holds a Bachelor of Commerce degree from the University of Calgary, is a Chartered Professional Accountant, CMA, and holds the Chartered Financial Analyst designation.

About MAXIM

Based in Calgary, Alberta, MAXIM is one of the largest truly independent power producers in Canada. MAXIM is now fully focused on energy projects in Alberta. Its main asset, the 204 MW HR Milner plant in Grande Cache, Alberta, is a state-of-the-art natural gas power plant that was commissioned in the second quarter of 2020. MAXIM has the ability to increase the capacity of M2 to around 300 MW and simultaneously achieve an improvement in plant efficiency by investing in combined cycle heat recovery technology. In addition, MAXIM continues to explore other development options in Alberta, including its currently licensed gas-fired production project and the authorization of its wind power production project. MAXIM trades on the TSX under the symbol MXG. For more information on MAXIM, visit our website at www.maximpowercorp.com.

For more information, please contact:

Robert Emmott, President and Chief Operating Officer, (403) 263-3021.

Statements in this press 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 which may cause MAXIM’s actual results, performances or achievements to differ materially from future results, performances or achievements expressed or implied by these forward-looking statements. MAXIM may update or revise any forward-looking statement, whether as a result of new information, future events or changes in market and business conditions and will update such forward-looking statements as necessary under the laws. on applicable securities.

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