Maxim Power Corp. Announces Interim Chief Executive Officer

CALGARY, ALBERTA--(Marketwired - June 2, 2016) - Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) announced today that Mr. John R. Bobenic is no longer serving as Chief Executive Officer of the Corporation. Mr. M. Bruce Chernoff, Chairman of the Board of the Corporation, will be acting as interim Chief Executive Officer until a successor is appointed.

The Board of Directors would like to thank Mr. Bobenic for his service to MAXIM since joining the Corporation in 2000.

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.

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.