Carmanah: Completion of $6 Million Rights Offering
VICTORIA, BRITISH COLUMBIA, CANADA - Carmanah Technologies Corporation (TSX: CMH) is pleased to announce that it has completed its previously announced rights offering.
Carmanah issued a total of 50,294,200 common shares (the “Rights Shares”) under the Offering at a price of $0.12 per Rights Share, for gross proceeds of $6,035,304.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. Carmanah pursues its business strategy within six distinctive product offerings: outdoor lighting, marine signal, aviation signals, traffic signals, Solar EPC Services and Go Power!. Carmanah is actively seeking additional product sales opportunities to add to its top line revenue, as well as extending existing product lines through internal development efforts, strategic business relationships as well as focused acquisitions. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH”. For more information, visit www.carmanah.com.
Investor Relations: Stuart Williams, CFO