Maxim Power Corp. Announces 2020 First Quarter Financial and Operating Results

CALGARY, Alberta, May 07, 2020 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announced today the release of financial and operating results for the first quarter ended March 31, 2020. The unaudited condensed consolidated interim financial statements, accompanying notes and Management’s Discussion and Analysis (“MD&A”) will be available on SEDAR and on MAXIM's website on May 7, 2020. All figures reported herein are Canadian dollars unless otherwise stated.

FINANCIAL HIGHLIGHTS
	Three Months Ended March 31,
($ in thousands except per share amounts)		2020		2019
Revenue	$	7,258	$	8,199
Adjusted EBITDA (1)		2,205		(1,034	)
Net income (loss)		1,006		(1,794	)
Net income (loss) per share – basic and diluted	$	0.02	$	(0.03	)
Total generation		42,301		121,716
Average Alberta market power price ($ per MWh)	$	67.06	$	70.76
Average Milner realized power price ($ per MWh)	$	171.45	$	67.29
Total debt	$	54,170	$	-
Total assets	$	227,392	$	171,928