M2 RETURN TO SERVICE UPDATE
MAXIM has completed construction of the new air inlet filter house and is underway with completing internal cleaning and installation of filters to facilitate start-up of M2. Due to certain supply-chain delivery challenges, now mitigated, the M2 restart schedule has been extended from late
INSURANCE INFORMATION UPDATE
MAXIM continues to collect insurance proceeds in relation to the non-injury fire event at M2 with cumulative payments received to date of
About MAXIM
Based in
Forward-looking statements
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, MAXIM's timing of the return to service of M2, commissioning of the CCGT expansion of M2 and insurance claim related to the same.
Forward-looking information is based on certain assumptions and analysis made by MAXIM in light of our experience and MAXIM’s perception of historical trends, current conditions, expected future developments and other factors MAXIM believes appropriate under the circumstances. These include, among other things, assumptions regarding insurance coverage and the receipt of equipment needed to complete the repairs.
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. Risk factors include MAXIM’s the timing of the return to service of M2, commissioning of the CCGT expansion of M2 and coverage for damages and business interruption. Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect MAXIM’s business, operations or financial results are included in the reports on file with applicable securities regulatory authorities, including but not limited to MAXIM’s Annual Information Form for the year ended
Source:
2023 GlobeNewswire, Inc., source