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Press release from Marketwire

Maxim Power Corp. Reports Results From Annual and Special Meeting of Shareholders

Friday, May 24, 2013

Maxim Power Corp. Reports Results From Annual and Special Meeting of Shareholders

15:13 EDT Friday, May 24, 2013

CALGARY, ALBERTA--(Marketwired - May 24, 2013) - Maxim Power Corp. ("MAXIM" or the "Company") (TSX:MXG) held its Annual and Special Meeting of Shareholders in Calgary on May 22, 2013 (the "Meeting"). The total number of Common Shares represented by Shareholders in person and by proxy was 33,179,586, which represents 61.2% of the Company's outstanding Common Shares.

At the Meeting, Shareholders approved each of the following resolutions:

1. Fixing the number of Directors to be elected at the meeting at six;

2. The election of six nominees as Directors of MAXIM to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with shares represented at the Meeting voting by way of ballot in favour of the individual nominees as follows:

Wiley Auch 94.9%
John R. Bobenic 97.7%
M. Bruce Chernoff 94.9%
Joel Lusman 97.4%
Johann Polz 94.9%
W. Brett Wilson 94.4%

3. The appointment of KPMG LLP to hold office as Auditors of the Company until the next Annual General Meeting of Shareholders at such remuneration as shall be fixed by the Board of Directors; and

4. The ordinary resolution whereby all unallocated stock options issuable pursuant to the Company's Stock Option Plan were approved and authorized until May 22, 2016, and the amendments to the Plan were approved on the terms described in the Information Circular of the Corporation dated March 21, 2013. The results of the vote by way of ballot were as follows:

Votes For % Votes For Votes Against % of Votes Against
31,174,862 99.03 304,736 0.97

About MAXIM

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 41 power plants in western Canada, the United States and France, having 804 MW of electric 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:

Contact Information:
Maxim Power Corp.
John R. Bobenic
President and CEO
(403) 750-9300


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


Maxim Power Corp.
Suite 1210, 715 - 5 Avenue S.W.
Calgary, Alberta, Canada T2P 2X6
Press Line: 403.263.3021
www.maximpowercorp.com

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