Maxim Power To Sell Hartland Landfill Project To Capital Regional District

(RTTNews) - Maxim Power Corp. (MXG.TO) has agreed to sell the 1.6 MW Hartland Landfill Project to the Capital Regional District for $1.8 million including the termination of a lease agreement with a value of $0.9 million, resulting in net sales proceeds of $0.9 million.

The CRD is the regional government for the 13 municipalities and three electoral areas that are located on the southern tip of Vancouver Island.

The Hartland Landfill Project is a landfill gas generation project in the CRD, located approximately 14 kilometers northwest of Victoria, BC.

The sale is expected to close during the third quarter of 2013, subject to customary closing conditions. MAXIM will utilize the proceeds from the sale for strategic corporate purposes.