Category: Investor News

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.

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.

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.

Carmanah Announces Results of Annual General Meeting

Carmanah Technologies Corporation (TSX: CMH) (“Carmanah” or the “Company”) today announced the voting results from its annual general meeting held on May 4, 2017.  The shareholders voted on and approved the election of the directors of the Corporation and the reappointment of KPMG LLP, Chartered Accountants as auditors of the Corporation. The voting results were as follows:  Nominee Votes For Votes Withheld # % # % Election of Directors   John Simmons 10,696,802 94.62% 607,910 5.38% Michael Sonnenfeldt 10,298,902 91.10% 1,005,810 8.90% Terry Holland 11,303,152 99.99% 1,560 0.01% James Meekison 11,303,152 99.99% 1,570 0.01% Sara Elford 11,303,352 99.99% 1,360 0.04%   Appointment of Auditors 11,991,120 99.96% 4,314 0.04% About Carmanah Technologies Corporation Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure.

Carmanah Reports First Quarter 2017 Fiscal Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its first quarter financial results for the period ended March 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 planned disposal was announced in a press release dated October 11, 2016.

Carmanah Announces Release Date for First Quarter 2017 Financial Results and Conference Call

VICTORIA, BC, CANADA (April 28, 2017) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its first quarter 2017 financial results on Wednesday, May 3rd, 2017 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Thursday, May 4th, 2017.

Carmanah Announces Completion of Sale of On-Grid Power Business

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that its wholly owned subsidiary, Carmanah Solar Power Corp. (“CSPC”), has completed the sale of its solar power engineering, procurement and construction business (“Solar EPC”).  The proceeds of the asset sale were USD 2.0 million and is subject to final adjustments. In addition to these proceeds CSPC will retain responsibility for four solar power construction portfolios that are at, or close to substantially complete.  It is expected that these portfolios will achieve final completion before the end of 2017.  While most of the revenue related to these portfolios has been recognized, CSPC expects to collect accounts and notes receivable in excess of USD 5.4 million on final completion.

Carmanah Reports Fourth Quarter, and Fiscal 2016 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its fourth quarter, and fiscal 2016 financial results for the period ended December 31, 2016.  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.

Carmanah Announces Release Date for Fourth Quarter 2016 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its fourth quarter 2016 financial results on Monday, March 20th, 2017 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Tuesday, March 21st, 2017.

Carmanah to provide remote monitored LED lanterns for Norwegian Coastal Administration

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that its subsidiary, Sabik Oy (“Sabik Marine”), has been selected by the Norwegian Coastal Administration (“Kystverket”) to provide remote monitored LED lanterns for their coastal waters under agreement for the next 3-4 years. The Norwegian coast is known for its challenging conditions and difficult-to-navigate waters.