CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Pursuant to the early warning requirements of applicable Canadian securities laws, M. Bruce Chernoff announces that he has acquired, through Alpine Capital Corp. ('Alpine'), an entity majority owned by him, ownership and control of an aggregate of 6,542,928 common shares ('Maxim Shares') of Maxim Power Corp. ('Maxim'), representing approximately 12.9% of the issued and outstanding Maxim Shares (based on 50,554,842 Maxim Shares issued and outstanding prior to the conversion), on conversion of $14,721,588.00 amount of the convertible loan provided by Alpine to Maxim dated September 10, 2019, as amended (the 'Convertible Loan') at a conversion price of $2.25 per Maxim Share.