Category: Uncategorized

Carmanah M800 Series Solar Powered Marine Lanterns Selected by US Coast Guard

Carmanah Technologies Corporation (TSX: CMH), has been awarded a multi-year contract to supply marine aids-to-navigation to the US Coast Guard. The Carmanah M800 Series marine lantern was the product of choice in the Small and Large Self Contained LED Lantern categories per USCG Solicitation # HSCG84-14-R-BHQ044.

M800 Marine Lantern Selected by US Coast Guard

Carmanah has been awarded a multi-year contract to supply marine aids-to-navigation to the US Coast Guard. The Carmanah M800 Series marine lantern was the product of choice in the Small and Large Self Contained LED Lantern categories per USCG Solicitation # HSCG84-14-R-BHQ044. View the complete corporate press release.

Carmanah Announces Share Consolidation Effective Date

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announced today that the previously announced consolidation (the “Consolidation”) of its common shares (the “Common Shares”) on the basis of (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares will be effective as of August 14, 2014 and trading of the Common Shares will commence on a consolidated basis on the TSX at the opening on such date. The Consolidation has been approved by the Toronto Stock Exchange (the “TSX”), and a related bulletin was issued by the TSX on August 12, 2014. The Company’s outstanding options will also be adjusted on the same basis (10:1) as the Common Shares, with proportionate adjustments being made to exercise prices.  A letter of transmittal was mailed to shareholders on August 8, 2014 advising that shareholders should surrender their existing share certificates (representing pre-Consolidation Common Shares) for replacement share certificates (representing post-Consolidation Common Shares).

Carmanah Reports Second Quarter 2014 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its second quarter financial results for six and three months ended June 30, 2014.  For the quarter ended June 30, 2014, the Company recorded revenues of $9.0 million, net income of $0.4 million and positive EBITDA of $0.8 million.  This is an increase from the same period in 2013 which had revenues of $6.3 million, a net loss of $2.5 million and an EBITDA loss of $2.2 million.  “We are very pleased with our second quarter results during which revenues grew 42.3% compared to the comparable period in 2013” stated John Simmons, CEO.

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

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its second quarter 2014 financial results on August 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 Friday, August 8, 2014.

Carmanah Announces Share Consolidation

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announced today that it intends to complete a consolidation (the “Consolidation”) of its common shares (the “Common Shares”) on the basis of (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares. John Simmons, Chief Executive Officer of the Company, commented "One year ago we began a process to restructure and refinance the Company.  During this period we have grown revenues, improved margins and lowered operating costs, all of which have served to restore profitability.  In that time we have also raised approximately $12 million to bolster our balance sheet and have completed the acquisition of Sol, Inc.

Carmanah Completes $3 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 12,000,000 common shares in the capital of Carmanah (each a “Share”) at a price of $0.25 per Share for gross proceeds of $3,000,000 (the “Private Placement”).  All of the Shares issued under the Private Placement were purchased by James Meekison and Terry Holland; both of whom are insiders of the Company.

Carmanah Announces $3 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 12,000,000 common shares in the capital of Carmanah (each a “Share”), representing approximately 7.6% of the outstanding common shares of the Company, at a price of $0.25 per Share for gross proceeds of $3,000,000 (the “Private Placement”).  All of the Shares issued under the Private Placement are expected to be purchased by James Meekison and Terry Holland; both of whom are insiders of the Company.

Carmanah Releases Preliminary Financial Results for Q2 2014

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announced today its preliminary financial estimates for the quarter ended June 30, 2014.  The announced highlights include: Revenues in Q2 2014 were approximately $9.0 million, up 43% over Q2 2013 revenues of $6.3 million. Year to date revenues were approximately $18.1 million, up 36% over the comparable period in 2013 of $13.3 million. Gross margins in Q2 2014 are up substantially from Q2 2013 and remain reasonably consistent with margins achieved in Q1 2014. Carmanah’s order backlog grew through Q2 2014 and is significantly higher than the order backlog at the end of Q1 2014.

Carmanah Completes Merger with SOL Inc.

Victoria, BC, Canada (July 2, 2014) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) announces that it has completed a merger with SOL Inc., a privately-owned Florida-based company that designs, manufactures and sells solar outdoor LED lighting solutions (“SOL”), pursuant to which SOL has become a wholly owned subsidiary of Carmanah.