Carmanah Commences Trading On The Toronto Stock Exchange
Victoria, British Columbia, Canada - February 2, 2006 - Carmanah
Technologies Corporation ("Carmanah") (TSX VE: CMH) - Canada's largest solar
company - is pleased to announce that it has officially joined the Toronto
Stock Exchange ("TSX"). Carmanah's common shares will begin trading on the
TSX effective Thursday, February 2, 2006 at 9:30 am ET under the symbol
"CMH".
Carmanah CEO Art Aylesworth and Chairman/founder Dr. David Green will mark
the occasion at an official listing ceremony at the TSX Broadcast Centre in
Toronto. Mr. Aylesworth will sound the siren to signal the opening of the
market and Carmanah's graduation from the TSX Venture Exchange.
"This will be a proud day for Carmanah." states Aylesworth. "We will
celebrate how far our company has come, and look forward with great
anticipation to the next steps in its evolution. The Venture Exchange has
provided an excellent platform for our initial listing and we are very
pleased with the progress we've made over the past four years. It is our
ambition to increase our profile and exposure within the financial
community, both in Canada and beyond and the time feels right for the move
to the senior exchange. We look forward to this next phase of Carmanah's
development and the expanded opportunities provided by the Toronto Stock
Exchange."
Carmanah shares began trading on the Venture Exchange under the symbol "CMH"
in 2001. Trading on the TSX will remain under the same symbol.
Carmanah's growth has been bolstered recently by a number of significant
accomplishments, including:
The acquisition of Soltek Powersource, the largest Canadian supplier of
solar systems and solar-related equipment;
A $1,000,000 contract to build Canada's largest solar power system at
Toronto's Exhibition Place. The system is expected to reduce the facility's
carbon dioxide emissions by 94.7 tonnes per year;
Contracts to light the 2010 Olympic and Paralympic Winter Games. Carmanah's
24-hour solar flashing beacons are already part of the preliminary phase of
the Sea-to-Sky Highway Improvement Project. Carmanah's internally
illuminated street-name signs will be used to increase safety and visibility
at the Richmond Oval;
The Toronto installation of 350 solar-powered bus shelters - the first in
Canada;
Numerous awards, including two 2005 Canada Export Awards from International
Trade Canada and the Global 100 Eco-Tech Award from the 2005 World
Exposition in Japan;
The successful completion of $15,000,000 in a private placement financing of
common shares in December of 2005;
Record financial results for Q3 2005, highlighted by a 164% increase in
revenues over Q3 2004 and a 93% increase in year-to-date revenues compared
to the same period in 2004.
About Carmanah Technologies Corporation:
Carmanah is an award-winning manufacturer of energy-efficient technologies.
The company is currently focused on three technology groups: solar power
systems and equipment, solar-powered LED lighting, and LED illuminated
signage. Headquartered in Victoria, British Columbia, Carmanah has branch
offices and/or sales representation in 11 cities across Canada, the United
States, and the United Kingdom. With more than 250,000 installations
worldwide, Carmanah is one of the world's premier suppliers of
energy-efficient products. For more information, please visit
www.carmanah.com
For further information, please contact:
David Davies
Tel: (250) 382-4332
ddavies@carmanah.com
