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Yahoo
4 days ago
- Business
- Yahoo
Maxim Power Corp. Announces Annual General and Special Meeting Election Results
CALGARY, Alberta, June 03, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announced today the final director election results from its 2025 annual general and special meeting of shareholders held on June 3, 2025 (the 'Meeting'). A ballot was conducted at the Meeting with respect to the election of the directors to hold office until the next annual meeting of shareholders. According to the proxies received and ballots cast, the following directors were elected at the Meeting to hold office until the next annual meeting of shareholders or until their successors are elected or appointed, unless such office is earlier vacated in accordance with the by-laws of the Corporation: Nominee # Votes For % Votes For # Votes Withheld % Votes Withheld Wiley D. Auch 53,013,949 99.71 155,012 0.29 M. Bruce Chernoff 52,801,483 99.31 367,478 0.69 Michael Mayder 53,156,449 99.98 12,512 0.02 Brad Wall 53,013,619 99.71 155,342 0.29 Andrea Whyte 53,012,949 99.71 156,012 0.29 W. Brett Wilson 52,801,173 99.31 367,788 0.69 In addition to the foregoing, all unallocated stock options issuable pursuant to the Corporation's Stock Option Plan were approved and authorized at the Meeting until June 3, 2028, as described in the Information Circular of the Corporation dated April 21, 2025. The results of the vote by way of ballot were as follows: Votes For % Votes For Votes Against % of Votes Against 52,443,680 98.64 725,281 1.36 Shareholders were also asked to consider and, if thought fit, approve an ordinary resolution to confirm the amended and restated By-Law No.1 of the Corporation, as described in the Information Circular of the Corporation dated April 21, 2025. The results of the vote by way of ballot were as follows: Votes For % Votes For Votes Against % of Votes Against 53,162,046 99.99 6,915 0.01 For complete voting results with respect to the Meeting, please see MAXIM's Report of Voting Results which will be available shortly under the Corporation's profile on SEDAR+ at About MAXIM Based in Calgary, Alberta, MAXIM is one of Canada's largest truly independent power producers. MAXIM is now focused entirely on power projects in Alberta. Its core asset – the 300 MW H.R. Milner Plant, M2, in Grande Cache, AB – is a state-of-the-art combined cycle gas-fired power plant that commissioned in Q4, 2023. MAXIM continues to explore additional development options in Alberta including its currently permitted gas-fired generation project and the permitting of its wind power generation project. MAXIM trades on the TSX under the symbol 'MXG'. For more information about MAXIM, visit our website at For further information please contact: Bob Emmott, President and CEO, (403) 263-3021 Kyle Mitton, CFO and Vice President, Corporate Development, (403) 263-3021 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.
Yahoo
10-03-2025
- Business
- Yahoo
Vitesse Energy completes $222m acquisition of Lucero Energy
Vitesse Energy, a US-based oil and gas company, has completed the acquisition of Lucero Energy, a Canada-based oil company, following approvals from both companies' shareholders and the Court of King's Bench of Alberta on 6 March 2025. The acquisition, first announced in December 2024, is valued at $222m (C$317.02m). Under the transaction, each common share of Lucero will entitle its holder to receive 0.01239 of a share of Vitesse common stock. After the completion of the arrangement, Lucero shares will be delisted from the TSX Venture Exchange and the OTCQB Market, and the Vitesse shares issued to Lucero shareholders will commence trading on the New York Stock Exchange. Vitesse shareholders are expected to hold approximately 80%, while existing Lucero shareholders are projected to hold 20% of the company on a fully diluted basis. Vitesse Energy chairman and chief executive officer Bob Gerrity said: 'We are pleased to complete the acquisition of Lucero, which is expected to increase our dividend and will provide additional liquidity to further our ability to make accretive acquisitions. 'We are grateful for the hard work and dedication of the Vitesse and Lucero employees, who have been working diligently to help us finalise this acquisition.' The transaction expands Vitesse's portfolio with Lucero's assets comprising approximately 6.4 million barrels of oil equivalent per day (mboe/d) of production in the Bakken region. Additionally, Lucero brings $56m in cash with no outstanding debt as of 30 September 2024 as part of the transaction. In line with the acquisition, Vitesse has welcomed M. Bruce Chernoff and Gary D. Reaves to its board of directors. "Vitesse Energy completes $222m acquisition of Lucero Energy" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
