Maxim Power Corp. Approved for Share Purchase Program
News related to:Maxim Power Corp · 2 min read
CALGARY, Alberta, Sept. 11, 2026 /CourierPR/ -- Maxim Power Corp., one of Canada’s largest independent power producers, has received approval from the Toronto Stock Exchange (TSX) to proceed with a normal course issuer bid (NCIB). The company will be able to purchase up to 3,173,127 common shares of its own stock, representing approximately 5% of the 63,462,546 shares issued and outstanding as of September 2, 2026.
The NCIB will commence on September 16, 2026, and may continue until September 15, 2027, or earlier at the discretion of Maxim Power Corp. The company will make purchases through a registered broker on the TSX and alternative Canadian trading systems at prevailing market prices. The daily purchase limit is set at 2,389 shares, which is 25% of the average daily trading volume of 9,557 shares for the six months ended August 31, 2026.
In addition to the NCIB, Maxim Power Corp. will also implement an automatic share purchase plan (ASPP) to allow for purchases during internal trading black-out periods. This plan will enable the company to buy shares when it would normally be inactive in the market due to internal trading restrictions.
According to the company, the NCIB is part of its strategy to manage its capital structure and potentially increase the value of its shares for shareholders. Management believes that the market price of the shares may not always fully reflect the underlying value of the company, and that purchasing shares at times when the market price is considered undervalued would be in the best interests of shareholders.
Maxim Power Corp. is focused on power projects in Alberta, with its core asset being the 300 MW H.R. Milner Plant, Milner 2, in Grande Cache, Alberta. The company continues to explore additional development options in the province, including its currently permitted gas-fired generation project and the permitting of its wind power generation project.
The NCIB follows the expiration of Maxim Power Corp.’s previous normal course issuer bid, which was effective from September 16, 2025, and expired on September 15, 2026. Under the previous bid, the company purchased 306,425 shares at a weighted average price of $4.42 per share.