Carmanah Announces Results of Annual General Meeting

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah” or the “Corporation”) today announced the voting results from its annual general meeting held on June 22, 2018.  The shareholders voted on and approved to set the number of directors of the Corporation at four, the election of the directors of the Corporation, and the reappointment of KPMG LLP, Chartered Professional Accountants as auditors of the Corporation. The voting results were as follows: About Carmanah Technologies Corporation Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure.
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Carmanah Announces Normal Course Issuer Bid

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s notice of its intention to make a normal course issuer bid (the “Bid”) to purchase up to 1,264,446 of its common shares, representing approximately 10% of its public float as of June 8, 2018.
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Carmanah Reports First Quarter 2018 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its first quarter financial results for the period ended March 31, 2018.  Currency amounts are in U.S. dollars unless otherwise noted and are for Carmanah’s continuing operations which exclude the operating results from the Company’s Power Division segment which was divested by way of two separate transactions in 2017. In the first quarter of 2018, Carmanah generated revenues of USD $14.9 million, up USD $3.8 million or 34.3% over the first quarter of 2017 revenues of USD $11.1 million.  The increase in revenues was attributed to stronger performance by the Company’s Signals segment, which generated revenues of USD $13.5 million, up USD $4.0 million or 41.2% over the first quarter of 2017 revenues of USD $9.6 million.  The Illumination segment generated revenues of USD $1.4 million, down USD $0.1 million or 8.9% over the first quarter of 2017 revenues of USD $1.5 million, as the transition to our next generation EverGen product continued.   Gross margin percentage in the first quarter of 2018 was 42.4%, down 2.5% compared to the same period in 2017.
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Carmanah Announces Release Date for First Quarter 2018 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its first quarter 2018 financial results on Thursday May 10th, 2018 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Friday May 11th, 2018.
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Carmanah Telematics business unit receives material order

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported that its Telematics business unit has received a product purchase order valued at USD$2.2 million.  This order, together with a previous order in the amount of USD$1.2 million, are being disclosed because they are expected to have a material impact on the Company’s Telematics business unit.  Carmanah’s Telematics business unit was formed in 2016 and since that date had only generated non-recurring engineering project revenues.  The orders disclosed today are for manufactured products which the Company expects to complete by way of multiple deliveries during the second and third quarters of 2018. About Carmanah Technologies Corporation Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure.
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Carmanah Publishes 2017 Corporate Social Responsibility Report

Happy Earth Day! We’re so excited to celebrate the planet today with our 2017 Corporate Social Responsibility Report. It reviews the three commitments that make up our triple bottom line approach: people, planet, and profit. Highlights from this year? Sponsoring local triathlete Lauren Babineau, doubling the number of staff who bike to work, and reviewing our supply chain and design philosophy. Full report is availible by clicking on the image below..
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Carmanah Reports Fourth Quarter, and Fiscal 2017 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its fourth quarter and fiscal 2017 financial results for the periods ended December 31, 2017.  Currency amounts are in U.S. dollars unless otherwise noted.     All figures below, unless otherwise stated, are for Carmanah’s continuing operations and exclude the operating results from the Company’s Power business segment.  The company completed the sale of the On-Grid division on April 3, 2017 and the sale of the Off-Grid division on August 1, 2017. Fourth Quarter Revenues and Profitability In the fourth quarter of 2017, we generated revenues of USD $14.1 million, up USD $3.4 million or 31.6% over the fourth quarter of 2016 revenues of USD $10.7 million.  The increase in revenues was attributed to exceptionally strong performance from most of our Signals verticals, which generated revenues of USD $13.3 million, up USD $4.5 million or 50.9% over the fourth quarter of 2016 revenues of USD $8.8 million.  The Marine vertical now includes the revenue of Vega.
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Carmanah Acquires Patent Portfolio

Carmanah Technologies Corp. (“Carmanah” or “the Company”) today announces that it has acquired a portfolio of patents and patent applications from Stop Experts, Inc. and R.D. Jones.  The patents, issued by the US. Patent and Trademark Office, as well as additional patent applications all relate to traffic control devices most specifically, Rectangular Rapid Flashing Beacons (“RRFB”).  RRFB devices are deployed in mid-block crosswalks, are pedestrian actuated and have a unique flashing pattern.  Independent testing has proven that RRFBs have a significantly higher driver yield rates than conventional flashing lights and are quite economical and easy for municipal customers to deploy. Total consideration to be paid for the patent portfolio will be USD $2.4 million.
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Carmanah Announces Release Date for Fourth Quarter 2017 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its fourth quarter 2017 financial results on Friday, March 23rd, 2018 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Monday, March 26th, 2018.
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Carmanah Announces Resolution of Disputed Receivable

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported that its wholly owned subsidiary, Carmanah Solar Power Corporation, has come to a negotiated resolution with respect to a previously disputed receivable involving one of its customers.  As a result of the resolution, Carmanah will incur a one-time charge of USD $1.7 million, negatively impacting the net income from discontinued operations in the fourth quarter of 2017.      About Carmanah Technologies Corporation Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure.
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