Maxim Power Corp T.MXG

Alternate Symbol(s): MXGFF

Utilities Utilities - Independent Power Producers

Maxim Power Corp. is a Canada-based independent power producer, which is focused entirely on power projects in Alberta. The Company acquires or develops, owns and operates power and power related projects in Alberta. The Company’s core asset is the 300-megawatt (MW) H.R. Milner Plant, M2, in Grande Cache, AB, which is a combined cycle gas-fired power plant. It also explores additional development options in Alberta, including its permitted gas-fired generation project and the permitting of its wind power generation project. The Combined Cycle Gas Turbine (CCGT) expansion of M2 captures waste heat that would otherwise exhaust into the atmosphere and converts it into low carbon dispatchable electricity for the Alberta power grid. In total, it has about 600 MW of natural gas and wind development projects at various stages. Summit Coal LP is a wholly owned subsidiary of the Company that owns metallurgical coal leases for Mine 14 and Mine 16S located north of Grande Cache, Alberta.

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Maxim Power Corp > Idle thoughts

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Comment by TheCrazyAccton Dec 12, 2024 1:33pm

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Post# 36359363

RE:RE:Idle thoughts

It appears to me that the controlling shareholders does not appear to be thinking of expanding because the company cleared off all debt and the controlling shareholders exercised the conversion of debt to equity .... then promptly issued a significant special dividend. If I am not mistaken, the value of the special dividends declared exceeded the total debt value converted by $2m

given the goal of the conversion was to increase their ownership which is now over 76% (?) - it suggests to me that they are looking for a buyer

the only hiccup to my expectation is that key management sold shares recently which runs counter to my expectation

thoughts?

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