Carmanah Technologies Announces Closing of Private Placement

March 28, 2002
Send to a friend Share RSS Facebook Twitter

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”

Praveen Varshney, Director

For further information, please contact:

Corporate Contact:

Mr. Praveen Varshney, Director

Telephone: (604) 629-0264

Toll-Free: 1-866-629-0264

Fax: (604) 682-4768


Media Contact:

Mr. David Davies

Harbourwerks Communications

Telephone: (250) 382-4332


Investor Relations Contact:

Vanguard Shareholder Solutions

Telephone: (604) 608-0824

Toll-Free: 1-800-567-6223

Fax: (604) 601-2004