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Carmanah Closes Purchase of Vega Industries Limited

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has closed its previously announced transaction to acquire Vega Industries Limited (“Vega”). The purchase price is NZD $12.0 million (USD $9.0 million) subject to certain adjustments and escrow holdbacks. Vega, with revenues of approximately NZD $7.7 million (USD $5.8 million) in its fiscal year March, 2017, will be maintained as a wholly owned subsidiary of Carmanah at its base of operations in Porirua, New Zealand.  The acquired business will operationally report to Sabik Marine OY based in Porvoo, Finland.  Integration plans, with a specific focus on providing marine aids-to-navigation customers comprehensive single-source solutions, are expected to be implemented over the coming months. As of July 31, 2017, Vega’s estimated balance sheet is comprised of approximately NZD $3.5 million (USD $2.6 million) of working capital, NZD $3.6 million (USD $2.7 million) of fixed assets including land and buildings.  Vega had negligible net debt on the closing date. ### About Carmanah Technologies Corporation Carmanah designs, develops, and distributes a portfolio of products focused on energy-optimized LED solutions for infrastructure.

Carmanah Announces Completion of Sale of Off-Grid Power (Go Power!) Business

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announced that it has completed the sale of its Off-Grid Power business (“Go Power!”) to Valterra Products, LLC (“Valterra”), a portfolio company of G. Scott Capital Partners, LLC.

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.

Best Complete Streets Policies: Making the List

Every year since 2006, the National Complete Streets Coalition, which is a Smart Growth America program, releases The Best Complete Streets Policies report. It evaluates policies across all 50 states, Puerto Rico, and the District of Columbia that provide a formal commitment to safe, convenient streets for every user, no matter who they are or […]

Carmanah celebrates Bike to Work Week 2017

In British Columbia, Bike to Work Week started in the city of Victoria—home to Carmanah’s head office—23 years ago with 500 participants as a way to promote commuter cycling. Today, communities across the province take part, with participants numbering 37,000 in 2016.

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.