Carmanah Announces Final Results of Substantial Issuer Bid

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces that it has taken up and paid for 6,000,000 million common shares (“Shares”) at a price of CAD $5.00 per Share under Carmanah’s substantial issuer bid (the “Offer”) for a total cost of CAD $30.0 million.
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Carmanah Announces Filing of Substantial Issuer Bid Documents

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces Carmanah’s substantial issuer bid (the “SIB”) to purchase up to $30.0 million of its common shares (“Shares”). On August 23, 2017, Carmanah announced its intention to commence an SIB, pursuant to which Carmanah will offer to purchase for cancellation up to CAD $30.0 million Shares at a price of CAD $5.00 per Share.
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Carmanah Reports Board Changes, Recent Insider Transactions and Proposed Substantial Issuer Bid

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces the following. Effective today, Michael W. Sonnenfeldt has announced his resignation as Chairman of the Board of Directors. “Just over four years ago, Michael Sonnenfeldt joined our Board as Chairman”, said John Simmons, Chief Executive Officer.
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Carmanah Reports Second Quarter 2017 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its second quarter financial results for the period ended June 30, 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 planned disposal was announced in a press release dated October 11, 2016.    In the second quarter of 2017, the Company generated revenues of USD $12.1 million down approximately 12% from Q2 2016 which had revenues of USD $13.9 million.
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Carmanah Announces Release Date for Second Quarter 2017 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its second quarter 2017 financial results on Wednesday, August 9th, 2017 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Thursday, August 10th, 2017.
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Carmanah Closes Purchase of Vega Industries Limited

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has closed its previously announced transaction to acquire Vega Industries Limited (“Vega”). The purchase price is NZD $12.0 million (USD $9.0 million) subject to certain adjustments and escrow holdbacks. Vega, with revenues of approximately NZD $7.7 million (USD $5.8 million) in its fiscal year March, 2017, will be maintained as a wholly owned subsidiary of Carmanah at its base of operations in Porirua, New Zealand.  The acquired business will operationally report to Sabik Marine OY based in Porvoo, Finland.  Integration plans, with a specific focus on providing marine aids-to-navigation customers comprehensive single-source solutions, are expected to be implemented over the coming months. As of July 31, 2017, Vega’s estimated balance sheet is comprised of approximately NZD $3.5 million (USD $2.6 million) of working capital, NZD $3.6 million (USD $2.7 million) of fixed assets including land and buildings.  Vega had negligible net debt on the closing date. ### 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 Completion of Sale of Off-Grid Power (Go Power!) Business

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that it has completed the sale of its Off-Grid Power business (“Go Power!”) to Valterra Products, LLC (“Valterra”), a portfolio company of G. Scott Capital Partners, LLC.
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Carmanah To Acquire Vega Industries Limited

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has signed a share purchase agreement to acquire Vega Industries Limited (“Vega”). Vega was established in 1972, and is a leading competitor in the worldwide marine aids to navigation market.
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Carmanah Announces Amendment to Existing Credit Facility

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces today that it has amended its previously announced commitment letter from the Canadian Imperial Bank of Commerce (“CIBC”) with respect to a multifaceted credit facility. The new total is USD $25.5 million. The commitment includes: ·         USD $10.0 million 364-Day Committed Revolving Credit, expiring June 15, 2018;·         USD $15.0 million Revolving Term Acquisition Credit;·         USD $0.5 million Credit for Trading Room Contingent Liabilities. “We are pleased to announce these changes to our credit facilities as we continue to grow our business both organically and by way of strategic acquisition,” said John Simmons, Chief Executive Officer.
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Sabik Marine lanterns mark Swiftsure course in Victoria, BC

What a great day at sea! Carmanah’s Sabik division was a bronze sponsor at this year’s Swiftsure International Yacht Race, held May 25–29, 2017, in Carmanah’s home city of Victoria, BC. Organized by the Royal Victoria Yacht Club, Swiftsure draws sailors from across the province as well as Washington state, California, Hawaii, and more.
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