Category: Investor News

Carmanah Announces Completion of $6 Million Rights Offering

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah”) is pleased to announce that it has completed its previously announced rights offering (the “Offering”). Carmanah issued a total of 50,294,200 common shares (the “Rights Shares”) under the Offering at a price of $0.12 per Rights Share, for gross proceeds of $6,035,304.   ### About Carmanah Technologies CorporationAs 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 Reports Third Quarter 2013 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its third quarter financial results for the period ended September 30, 2013.   For the third quarter of 2013, the Company recorded a net loss of $1.4 million on revenues of $4.9 million.

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

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its third quarter 2013 financial results on November 14th, 2013 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 November 14th, 2013.

Carmanah Announces Launch of $6 Million Rights Offering

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah”) announces that it has filed a final prospectus in respect of a shareholder rights offering (the “Offering”). Under the Offering, Carmanah will seek to raise up to approximately $6 million.   The proceeds from the Offering will be used for general corporate purposes including, but not limited to: (1) funding restructuring costs and process improvement expenditures all of which will be directed at reducing operating costs; (2) investments in new product development activities to meet market demands and improve gross margins; (3) funding an increase in inventory to meet customer demands and, if required by a change in manufacturing strategy, to buy back parts inventory from Carmanah’s contract manufacturer; and (4) funding operating losses until the results of (1) and (2) can be achieved.  Carmanah anticipates the proceeds will be sufficient to meet its non-discretionary expenditures and necessary restructuring costs over the next several quarters as it develops and implements changes to help in longer term profitability and growth.   Under the proposed terms of the Offering and subject to any restrictions imposed by applicable securities laws, each shareholder of record on October 22nd would be entitled to receive one right (each a “Right”) for each common share held on the record date.

Carmanah Technologies Corporation Announces Change in Directors

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah”) today announced the resignation of Robert D. Wiens from its Board of Directors with immediate effect. Carmanah thanks Mr. Wiens for his years of service and dedication.   ###   About Carmanah Technologies CorporationAs one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for transportation applications worldwide.

Carmanah Technologies Corporation Announces Recent Developments

Carmanah Technologies Corporation (TSX:CMH) (“Carmanah”) provides the following disclosure updates. Change in Chief Financial Officer On September 12, 2013, Carmanah terminated the contract of Mr. Roland Sartorius as Chief Financial Officer. At the same time, Carmanah appointed Mr.

Carmanah Technologies Corporation Announces $6 Million Rights Offering

  VICTORIA, BRITISH COLUMBIA, CANADA (September 17, 2013) Carmanah Technologies Corporation (TSX:CMH) (“Carmanah”) announces that it has filed a preliminary prospectus and will file a registration statement in respect of a proposed shareholder rights offering (the “Offering”).

Carmanah Reports Second Quarter 2013 Results

  VICTORIA, BC, CANADA (August 13, 2013) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its second quarter financial results for the period ended June 30, 2013.   For the second quarter of 2013, the Company recorded a net loss of $2.5 million on revenues of $6.3 million.

Carmanah Responds to Patent Infringement Lawsuit

    VICTORIA, BC, CANADA (August 8, 2013) Carmanah Technologies Corporation and Carmanah Technologies (US) Corporation (collectively “Carmanah”) have been named in a United States District Court lawsuit filed by R.D. Jones, Stop Experts, Inc., and RRFB Global, Inc. (all of which are related parties) alleging patent infringement with respect to a specific flash pattern used with respect to Carmanah’s solar powered flashing beacons for the traffic safety market.  The plaintiff has also sought a temporary restraining order and a motion for preliminary injunction to which Carmanah, through its US based attorneys, Dorsey & Whitney LLP, has filed opposition.  Carmanah intends to defend itself and will file appropriate responses to the Court as required to do so.   ### About Carmanah Technologies CorporationAs 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 Announces Release Date for Second Quarter 2013 Financial Results and Conference Call

    VICTORIA, BC, CANADA (August 7, 2013) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its second quarter 2013 financial results on August 13th, 2013 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 Tuesday, August 13th, 2013.