Category: Investor News

Carmanah Announces Results of Annual General and Special Meeting

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah” or the “Company”) today announced the voting results from its annual general and special meeting held on June 23, 2014.  The shareholders voted on and approved all of the proposals:  (1) the election of the directors of the Corporation, (2) the reappointment of Deloitte LLP as auditors of the Corporation, (3) the approval of the Company’s stock option plan, and (4) the approval of the acquisition of SOL, Inc.  The voting results for the election of the directors was as follows:    Votes For Votes Withheld Nominee # % # % John Simmons 74,503,180 99.88% 88,830 0.12% Michael Sonnenfeldt 69,426,446 93.07% 5,165,564 6.93% Peter Berrang 69,430,946 93.08% 5,161,064 6.92% Terry Holland 74,503,180 99.88% 88,830 0.12% James Meekison 74,484,980 99.86% 107,030 0.14% About Carmanah Technologies Corporation. As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide.

Carmanah Signs Definitive Merger Agreement with SOL Inc.

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that it has signed a definitive merger agreement with SOL Inc., a privately-owned Florida-based company that designs, manufactures and sells solar outdoor LED lighting solutions (“SOL”), pursuant to which SOL will become a wholly owned subsidiary of Carmanah.  The Company had previously announced a deal to acquire SOL on March 21, 2014 after the signing of a Letter of Intent.

Carmanah Reports First Quarter 2014 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its first quarter financial results for three months ended March 31, 2014.  For the quarter ended March 31, 2014, the Company recorded revenues of $9.1 million, net income of $0.1 million and positive EBITDA of $0.5 million.  This is an increase from the same period in 2013 which had revenues of $7.0 million, a net loss of $0.7 million, and an EBITDA loss of $0.4 million.  “The Carmanah team did an excellent job in the first quarter by increasing revenues and improving margins while lowering operating costs” stated John Simmons, CEO “This performance is a significant improvement over both the comparable quarter in 2013 and the last quarter of 2013.” Revenue growth in the first quarter was evident in virtually every division of the Company.  This led to a profitable result which would have been greater if not for extraordinary or unusual expenses.  Mr.

Carmanah Announces Release Date for First Quarter 2014 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its first quarter 2014 financial results on May 8, 2014 at 1:00 pm PT (4:00 pm ET).     Carmanah has scheduled a conference call for analysts at 2:00 pm PT (5:00 pm ET) on Thursday, May 8, 2014.

Carmanah Announces Close of $4.2 Million Private Placement

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) is pleased to announce that it has completed a non-brokered private placement of 19,300,000 common shares in the capital of Carmanah (each a “Share”) at a price of $0.22 per Share for gross proceeds of $4,246,000 (the “Private Placement”).  Of the 19,300,000 Shares issued, 10,000,000 were purchased by insiders of the Company.  This represents less than 10% of the issued and outstanding shares of the Company, which is the upper limit set by the Toronto Stock Exchange for private placements of this nature.  The following insiders with holdings around or above 10% participated in the Private Placement:  Michael Sonnenfeldt, Carmanah’s largest shareholder and Chairman of the Board, subscribed for 3,500,000 Shares under the Private Placement.  Mr.

Carmanah Announces $4.2 Million Private Placement

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) is pleased to announce that it plans to conduct a non-brokered private placement of up to 19,300,000 common shares in the capital of Carmanah (each a “Share”) at a price of $0.22 per Share for gross proceeds of up to $4,246,000 (the “Private Placement”).  Of the 19,300,000 Shares expected to be issued, 10,000,000 are anticipated to be purchased by insiders of the Company.  This represents less than 10% of the issued and outstanding shares of the Company, which is the upper limit set by the Toronto Stock Exchange for private placements of this nature.  The following insiders with holdings around or above 10% are anticipated to partake in the Private Placement:  Michael Sonnenfeldt, Carmanah’s largest shareholder and Chairman of the Board, intends to subscribe for at least 3,500,000 Shares under the Private Placement.  Mr.

Carmanah Agrees to Purchase SOL Inc. in a Share Exchange Valued at ~$7.5M

VICTORIA, BRITISH COLUMBIA, CANADA (March 21 , 2014) Carmanah Technologies Corporation (TSX: CMH) and SOL, Inc., a privately-owned Florida-based company, today jointly announced that Carmanah has entered into a binding Letter of Intent with SOL, Inc. and Michael Sonnenfeldt.

Carmanah Reports Fourth Quarter 2013 Results

*/ Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its fourth quarter financial results for the period ended December 31, 2013.   For the fourth quarter of 2013, the Company recorded a net loss of $0.9 million (inclusive of a restructuring charge of $0.6 million and asset impairment charges of $0.5 million) on revenues of $7.8 million.  This compares to a loss of $0.7 million on revenues of $8.4 million in the fourth quarter of 2012.  “We first announced that we intended to restructure the Company on September 17, 2013 and then confirmed our plan in a release on November 14, 2013” said John Simmons.

Carmanah Announces Release Date for Fourth Quarter and Fiscal 2013 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its third quarter 2013 financial results on March 14, 2014 at 1:00 pm PT (4:00 pm ET).   Carmanah has scheduled a conference call for analysts at 2:00 pm PT (5:00 pm ET) on Friday March 14th, 2014.

Carmanah Technologies Corporation Announces the Appointment of New Directors

Carmanah Technologies Corporation (TSX: CMH) today announced the appointment of two new directors to the board, Jim Meekison and Terry Holland.   “Both new board members bring the business leadership, strategic background and operational experience required to help us build Carmanah into a franchise that will instill pride in our shareholders, employees and customers,” said Chairman of the Board, Michael Sonnenfeldt. “While there is much to do to reverse the slide of the last few years, our goal is to achieve success within the clean-tech sector by targeting solid, growth-oriented business opportunities,” continued Sonnenfeldt.