Victoria, British Columbia, Canada – Friday, January 20, 2006 – Carmanah Technologies Corporation (“Carmanah”) (TSX VE: CMH) is pleased to announce that the Company has received conditional approval from the Toronto Stock Exchange for the listing of its common shares on the TSX, subject to filing final documentation.
“The graduation to the TSX marks the next step in Carmanah’s growth strategy,” states Art Aylesworth, Carmanah’s CEO. “The TSX Venture Exchange has provided an excellent platform from our initial listing in 2001 for our capital requirements. Carmanah’s growth, however, in the last year requires us to increase our profile within the financial community in Canada and beyond. We are looking forward to accomplishing this next milestone in Carmanah’s evolution.”
The Company expects to fulfill the listing requirements over the next few weeks and receive final approval in February 2006. Trading is expected to remain under the symbol CMH. Carmanah will issue a news release prior to the start of trading on the TSX.
On Behalf of the Board of Directors
Carmanah Technologies Corporation
“Praveen Varshney”
Praveen Varshney, Director
For further information, please contact:
Mr. Mark Komonoski, Director
Carmanah Technologies Corporation
Tel: (403) 861-8384
Toll-Free: 1-877-255-8483
Media:
Mr. David Davies
Tel: (250) 382-4332
This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described under the caption “Note Regarding Forward-looking Statements” and “Key Information – Risk Factors” and elsewhere in Carmanah’s Annual Report for the fiscal year ended December 31, 2004, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.