Maxim Power Corp. Announces Expanded Credit Facility With the Bank of Montreal

CALGARY, ALBERTA--(Marketwire - May 18, 2012) - Maxim Power Corp. ("MAXIM") (TSX:MXG) announced today that it has entered into a new credit agreement with the Bank of Montreal ("BMO"). This agreement provides for a new, $40 million, three-year committed revolving credit facility and a $3.5 million interest rate swap and foreign exchange facility. These facilities mature on May 31, 2015.

The revolving credit facility will be used to support MAXM's growth initiatives and pay out all previous BMO credit facilities. Facilities being repaid are an amortizing term loan ($19 million) and two facilities supporting letters of credit ($9 million).