Maxim Group LLC acted as joint book-running manager for Profire Energy, Inc.’s $24.0 million follow-on offering.

LINDON, Utah, June 27, 2014 (GLOBE NEWSWIRE) — Profire Energy, Inc. (PFIE) today announced the pricing of a $24,000,000 underwritten public offering of 6,000,000 shares of its common stock, at a price of $4.00 per share. 4,500,000 of the shares in the offering are being sold by the Company. The remaining 1,500,000 shares of common stock will be sold by certain stockholders of the Company who are members of management. The underwriters have a 45-day option to acquire an additional 900,000 shares of common stock from the selling stockholders to cover overallotments, if any, in connection with the offering. The Company expects to receive net proceeds of approximately $16,430,000 after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. The offering is expected to close on July 2, 2014, subject to customary closing conditions. Maxim Group LLC and Chardan Capital Markets, LLC are acting as the Joint Book Running Managers for the offering.

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