M2 OPERATIONS UPDATE
As previously reported, M2 initiated a routine planned maintenance outage on
M2 CCGT PROJECT UPDATE
As a result of work performed during the planned maintenance outage in November, M2 has successfully increased its maximum electrical interconnection capacity with the
Progress continues on the engineering and construction of the CCGT expansion of M2 and as of this date the project remains on schedule with no change to the previously reported estimated project costs of
At this time, MAXIM forecasts it has sufficient liquidity to complete the CCGT expansion of M2 and will fund the project using cash on hand, operating cashflows and available funds through the existing senior and subordinated credit facilities, as required.
UPDATED INVESTOR PRESENTATION
An updated investor presentation has been prepared for readers and can be accessed through MAXIM’s website in the Investors section.
About MAXIM
Based in
This press release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws relating to MAXIM's plans and other aspects of MAXIM's anticipated future operations, management focus, objectives, strategies, financial, operating and production results. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend", "may", "would", "could" or "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking information concerning, among other things, the expected run time of M1, the expected completion date of the CCGT expansion of M2, the current cost estimates for the CCGT expansion of M2 and MAXIM’s financing plans with respect to the CCGT expansion.
Management has included the forward-looking statements above and a summary of assumptions and risks related to forward-looking statements provided in this press release in order to provide readers with a more complete perspective on MAXIM's future plans and operations and such information may not be appropriate for other purposes.
MAXIM's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that MAXIM will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and MAXIM disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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