CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, W. Brett Wilson announces that he (indirectly through Prairie Merchant Corporation ("Prairie Merchant") a company owned and controlled by Mr. Wilson) has acquired ownership and control of an aggregate of 6,540,807 common shares ("Maxim Shares") of Maxim Power Corp. ("Maxim"), representing approximately 12.9% of the issued and outstanding Maxim Shares (based on 50,554,842 Maxim Shares issued and outstanding prior to the conversion), on conversion of $14,716,816.11 amount of the convertible loan provided by Prairie Merchant to Maxim dated September 10, 2019, as amended (the "Convertible Loan") at a conversion price of $2.25 per Maxim Share.
Before giving effect to the transaction, Mr. Wilson owned (directly or indirectly) an aggregate of 17,743,716 Maxim Shares representing approximately 35.1% of the issued and outstanding Maxim Shares (based on the number of issued and outstanding Maxim Shares set forth above). After giving effect to the transaction, Mr. Wilson (directly or indirectly) owns an aggregate of 24,284,523 Maxim Shares representing approximately 38.2% of the issued and outstanding Maxim Shares (based on the number of issued and outstanding Maxim Shares set forth above and the Maxim Shares issued on conversion of the Convertible Loan to Prairie Merchant and the other lender party to the Convertible Loan as of the date hereof).
The acquisition of the Maxim Shares was made in furtherance of Mr. Wilson's investment objectives. Mr. Wilson may, from time to time, as market opportunities exist or develop, increase or decrease his ownership in Maxim Shares as permitted by applicable securities laws.
FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONJUNCTION WITH THIS PRESS RELEASE, PLEASE CONTACT:
W. Brett Wilson
Seventh Floor, 933 – 17th Avenue SW
Calgary, Alberta T2T 5R6
Phone: (403) 705-7709
