Category: Uncategorized

Carmanah Completes Acquisition of EKTA branded products and contracts from Cybernetica AS

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it completed the acquisition of the EKTA marine aids to navigation assets from Cybernetica AS of Estonia (“Cybernetica”). The company had previously announced its intention to acquire the EKTA branded products and contracts on November 29th, 2016. “The acquisition accomplishes two important steps in our growth strategy,” said John Simmons, Carmanah CEO.

Carmanah to Acquire EKTA branded products and contracts from Cybernetica AS

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has entered an asset purchase agreement pursuant to which it will acquire certain marine aids to navigation assets owned by Cybernetica AS of Estonia (“Cybernetica”). The purchase price will be €1.35 million and will be paid by way of €1 million in cash on closing and €0.35 million on the first anniversary of closing. Cybernetica develops and manufactures software solutions, light signaling and telematics products, maritime surveillance, and radio communications systems.

Carmanah Reports Third Quarter 2016 Fiscal Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its third quarter financial results for the period ended September 30, 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 Third Quarter 2016 Financial Results and Conference Call

VICTORIA, BC, CANADA (October 28, 2016) Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its third quarter 2016 financial results on Wednesday, November 9th, 2016 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Thursday, November 10th, 2016.

Sabik Offshore Signs Cooperation Agreement with Orga Aviation BV

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that its subsidiary, Sabik Offshore GmbH (“Sabik Offshore”) of Schwerin, Germany and Orga Aviation BV (“Orga”) of Schiedam, The Netherlands, have signed a Collaboration Agreement (the Agreement) to develop and market an integrated marine aids to navigation and aviation obstruction solution for safe sea and air navigation in the vicinity of offshore wind farms. Sabik Offshore has been providing marine aids to navigation and ID marking solutions for offshore wind farms since 2008.

Carmanah Releases Preliminary Financial Results for Q3 2016

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) has released preliminary selected financial estimates for the quarter ended September 30, 2016. As is the Company’s normal practice, this preliminary release includes revenue guidance and commentary respecting order backlogs and gross margins.

Carmanah Announces Intent to Divest its Power Division

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced its intention to divest its Power Division businesses.  The Company’s Power Division is comprised of two separate businesses: Off-Grid Power – The Company’s off-grid power business, which operates under the trade name Go Power! provides solar power solutions for the recreational vehicle and industrial work truck markets through OEM and aftermarket channels.  It is headquartered in Victoria, Canada. On-Grid Power – The Company’s on-grid power business designs and builds ground mount and rooftop solar power plants for developers under the Carmanah Solar EPC Services trade name.

Globalstar and Carmanah Sign Strategic Agreement

Carmanah Technologies Corporation (TSX:CMH) (“Carmanah”) today announced a strategic agreement with Globalstar Inc (NYSE:GSAT) (“Globalstar”). Under the terms of the agreement (the “Agreement”) Carmanah will collaborate on the design and manufacture of new solar powered M2M satellite solutions for Globalstar as well as selecting the Globalstar low earth orbiting satellite constellation for remote connectivity of all strategic Carmanah products.  The Agreement includes a multi-year supply agreement whereby Carmanah will design, develop, and supply the next generation of Globalstar devices incorporating solar power charging capabilities.  The introduction of solar technology will support longer battery life as well as support a significant increase in data transmission capability on a device by device basis. “Many of our customers are interested in broadening the data capture and increasing the frequency of data transmissions from their mobile assets.

Carmanah Reports Second Quarter 2016 Fiscal Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its second quarter financial results for the period ended June 30, 2016.  Currency amounts are in U.S. dollars unless otherwise noted.      Second Quarter Revenues, Profitability and Cash Generation In the second quarter of 2016 the Company generated revenues of $19.5 million, up $3.8 million or 24% over Q2 2015 revenues of $15.7 million.  Overall revenue growth resulted from a mix of comparative revenue improvements and declines.  Revenues resulting from the acquisition of the Sabik Group of Companies contributed $6.0 million to the revenue increase.

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

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its second quarter 2016 financial results on Tuesday, August 9th, 2016 after market close. Carmanah has scheduled a conference call for analysts at 6:00 am PST (9:00 am ET) on Wednesday, August 10th, 2016.