Category: Investor News

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 7, 2015.  The shareholders voted on and approved the election of the directors of the Corporation and the reappointment of Deloitte LLP as auditors of the Corporation. The voting results were as follows:     Votes For Votes Withheld Nominee # % # % Election of Directors         John Simmons 4,269,942 99.3% 31,224 0.7% Michael Sonnenfeldt 4,174,047 97.0% 127,119 3.0% Peter Berrang 4,191,432 97.4% 109,734 2.6% Terry Holland 4,294,871 99.9% 6,295 0.1% James Meekison 4,294,551 99.8% 6,615 0.2%           Appointment of auditors 4,478,294 99.8% 11,205 0.2%   About Carmanah Since its founding in 1996, Carmanah has become one of the most trusted names in solar technology, delivering reliable and cost-effective solar powered products and systems for industrial applications worldwide.

Carmanah Announces Release Date for First Quarter 2015 Financial Results and Conference Call

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) will release its first quarter 2015 financial results on May 14, 2015 at 1:00 pm PT (4:00 pm ET).  Carmanah has scheduled a conference call for analysts at 2:00 pm PT (5:00 pm ET) on Thursday, March 14, 2015.

Carmanah Closes $3,750,000 Over-Allotment Option

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VICTORIA, BRITISH COLUMBIA (May 1, 2015) – Carmanah Technologies Corporation (TSX:CMH) (the “Company” or “Carmanah”), is pleased to announce the exercise, in full, and closing of its previously announced option for the Underwriters (as defined below) to purchase an additional 750,000 common shares of the Company (“Shares”) at a price of $5.00 per Share for aggregate gross proceeds of $3,750,000 (the “Over-Allotment Option”).

Carmanah Closes $28,250,000 Bought-Deal Offering

VICTORIA, BRITISH COLUMBIA (April 28, 2015) Carmanah Technologies Corporation (TSX:CMH) (the “Company” or “Carmanah”), is pleased to confirm the closing of its previously announced bought-deal offering of 5,650,000 common shares of the Company (“Shares”) at a price $5.00 per Share for aggregate gross proceeds of $28,250,000 (the “Offering”).

Carmanah Seeks Shareholder Approval for Previously Announced $28,250,000 Offering

Carmanah Technologies Corporation (the “Company” or “Carmanah”), pursuant to the underwriting agreement with a syndicate of underwriters led by Cormark Securities Inc. and including Canaccord Genuity Corp., GMP Securities LP and Salman Partners Inc. (collectively, the “Underwriters”) has agreed to sell 5,650,000 common shares of the Company (“Shares”) at a price of $5.00 per Share to the Underwriters, who in turn will sell Shares to the public, for gross proceeds to the Company of $28,250,000 (the “Offering”).

Carmanah Releases Preliminary Financial Results For Q1 2015

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today releases preliminary selected financial results for the quarter ended March 31, 2015.  As is the Company’s normal practice, this preliminary release includes revenue guidance and commentary respecting order backlogs and gross margins.  Full financial statement disclosure is scheduled to be made on or about May 13, 2015. Revenues in the first quarter of 2015 were approximately $11.3 million, up about 24 per cent from revenues of $9.1 million in the first quarter of 2014. Order backlog as at March 31, 2015, was approximately $10.7 million, up $1.7 million from $9.0 million at the beginning of the year and up more than $8.0 million from March 31, 2014.  The growth in backlog was attributable in part to the growth in orders received in all Divisions and to contracts in hand at December 31, 2014 in Carmanah’s On-Grid Power Division which were completion delayed as a result of inclement weather in Eastern Canada.  The majority of the order backlog, including weather delayed contracts, are expected to complete in the second quarter. Gross margin percentages in the first quarter of 2015 improved over the comparable quarter in 2014.  Each of the Company’s three Divisions generated gross margin improvements with the overall gross margin improvement also the result of a favorable sales mix in the quarter. "We are extremely pleased with all aspects of our first quarter 2015 results," said John Simmons, Chief Executive Officer.

Carmanah Announces $25 Million (CAD) Bought Deal Equity Financing

Carmanah Technologies Corporation (the “Company” or “CMH”) has today entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. and including Canaccord Genuity Corp. and GMP Securities LP (collectively, the “Underwriters”) pursuant to which the Underwriters have agreed to buy and sell to the public 5,000,000 common shares (“Common Shares”) of the Company at a price of $5.00 (CAD) per Common Share, for gross proceeds to the Company of $25,000,000 (CAD) (the “Offering”).

Carmanah Increases Bought Deal Equity Financing To $28 Million (CAD)

Carmanah Technologies Corporation (the “Company” or “CMH”) announces that it has increased its previously announced “bought-deal” financing to 5,650,000 common shares (“Common Shares”) of the Company.  A syndicate of underwriters led by Cormark Securities Inc.

Carmanah Technologies Corp. Announces the Appointment of Ms.Tammy Neske as Vice President, Chief Operating Officer

John Simmons, CEO of Carmanah Technologies Corp. announces today that Ms. Tammy Neske will join Carmanah as the Company’s Chief Operating Officer. In this new role Ms. Neske will be responsible for the day to day management of the Company, its business divisions, subsidiaries and shared services.    Ms.

Carmanah Reports Fourth Quarter 2014 Results

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today reported its fourth quarter financial results for the period ended December 31, 2014.   For the fourth quarter of 2014, the Company recorded a net income of $0.3 million (inclusive of a restructuring charge of $0.2 million) on revenues of $13.5 million.  This compares to a loss of $0.9 million on revenues of $7.8 million in the fourth quarter of 2013.