Vancouver, British Columbia - April 26, 2002 - Carmanah Technologies Corporation (CMH - TSX Venture Exchange) is pleased to announce that it has completed its non-brokered private placement announced on March 5, 2002, of 440,000 common shares of the Corporation at a price of $0.54 per share, for gross proceeds of $237,600. The securities issued pursuant to the private placement are subject to a four-month hold period expiring July 13, 2002.
The proceeds from the financing will be used for business development activities, new product development and increased production capacities.
About Carmanah Technologies Inc.
Carmanah specializes in the design, manufacture and supply of patented, proprietary solar-powered LED lighting solutions for marine, roadway and railway markets. The company currently has distributors in
over 80 countries worldwide and more than 42,000 units installed to-date. The shares of Carmanah
Technologies Corporation (parent company) are publicly traded on the Canadian Venture Exchange
under the symbol "CMH". For further information on the company's products and services, please visit
On Behalf of the Board of Directors,
Carmanah Technologies Corporation
Praveen Varshney, Director
For further information, please contact:
Mr. Praveen Varshney, Director
Telephone: (604) 629-0264
Fax: (604) 682-4768
Mr. David Davies
Telephone: (250) 382-4332
Investor Relations Contact:
Vanguard Shareholder Solutions
Telephone: (604) 608-0824
Fax: (604) 601-2004