Maxim Power Corp.: Board of Director Election Results
June 02, 2016 at 06:14 pm EDT
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CALGARY, ALBERTA--(Marketwired - Jun 2, 2016) - Maxim Power Corp. ("MAXIM" or the "Company") (TSX:MXG) today announced the final director election results from its 2016 annual and special meeting of shareholders held on June 2, 2016 (the "Meeting"). A ballot was conducted with respect to the election of the directors to hold office until the next annual meeting of shareholders. According to the proxies received and ballots cast, the following directors were elected to hold office until the next annual meeting of shareholders or until their successors are elected or appointed, unless such office is earlier vacated in accordance with the by-laws of the Company:
Nominee
# Votes For
% Votes For
# Votes Withheld
% Votes Withheld
Wiley D. Auch
38,098,451
96.28
1,470,501
3.72
John R. Bobenic
14,764,133
37.31
24,804,819
62.69
M. Bruce Chernoff
37,883,851
95.74
1,685,101
4.26
Johann Polz
38,083,601
96.25
1,485,351
3.75
W. Brett Wilson
37,886,051
95.75
1,682,901
4.25
As Mr. John R. Bobenic did not receive the requisite majority of votes "FOR" his election as a director at the Meeting, per the Company's Majority Voting Policy, Mr. Bobenic is required to tender his resignation as a director of the Company. Upon receipt of such resignation, the board of directors of the Company will consider all relevant factors in whether the board should accept such resignation and shall make such determination as soon as practicable.
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 39 power plants in Alberta, the United States and France, having 778 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.
Maxim Power Corp. is an independent power producer. The Company is focused entirely on power projects in Alberta. Its core asset, the 300 megawatts (MW) H.R. Milner Plant, M2, in Grande Cache, AB, is a combined cycle gas-fired power plant. The Company continues to explore additional development options in Alberta, including its permitted gas-fired generation projects and the permitting of its wind power generation project. Its Milner 2 (M2) power plant is a 204 MW natural gas-fired turbine generator located at the HR Milner Generating Station site near Grande Cache, Alberta. Its HR Milner Generating Station (Milner 1 or M1), located near Grande Cache, Alberta, is a 150 MW dual fuel steam turbine generator capable of burning both natural gas and coal.