Carmanah Announces Results of Annual General Meeting

VICTORIA, British Columbia, June 22, 2018 (GLOBE NEWSWIRE) — Carmanah Technologies Corporation (TSX:CMH) (“Carmanah” or the “Corporation”) today announced the voting results from its annual general meeting held on June 22, 2018.  The shareholders voted on and approved to set the number of directors of the Corporation at four, the election of the directors of the Corporation, and the reappointment of KPMG LLP, Chartered Professional Accountants as auditors of the Corporation.

The voting results were as follows:

Nominee   Votes For   Votes Withheld
             
    # %   # %
             
Number of Directors     10,663,224 99.93%     7,027 0.07%
             
Election of Directors            
             
John Simmons     10,375,901 97.24%     294,350 2.76%
             
Terry Holland     10,668,193 99.98%     2,058 0.02%
             
James Meekison     10,667,193 99.97%     3,058 0.03%
             
Sara Elford     10,669,065 99.99%     1,186 0.01%
             
Appointment of Auditors   10,882,229 99.92%     8,259 0.08%
             

About Carmanah Technologies Corporation

Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure. Since 1996, we have earned a global reputation for delivering durable, dependable, efficient and cost-effective solutions for industrial applications that perform in some of the world’s harshest environments. We manage our business within two reportable segments: Signals and Illumination. The Signals segment serves the Airfield Ground Lighting, Aviation Obstruction, Offshore Wind, Marine, Traffic and Telematics markets.  The Illumination segment provides solar powered LED outdoor lights for municipal and commercial customers.

Contact
Carmanah Technologies Corporation:
Evan Brown, (250) 380-0052
Chief Financial Officer/Corporate Secretary
investors@carmanah.com

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “estimates,” “could,” “will” or variations of such words and phrases. Forward-looking statements or information in this news release relate to, among other things: revenues, and revenue growth, for the first quarter of 2018; order backlogs; gross margins; and estimates of EBITDA and Adjusted EBITDA. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah or Sabik to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such factors include, but are not limited to: our ability to become a worldwide leader in the marine aids to navigation industry, the potential growth of the offshore wind safety market or our ability to participate in any growth, and other general uncertainties that may impact actual outcomes. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions, and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Carmanah disclaims any obligation to update, or to publicly announce, any such statements, events, or developments except as required by law.
For additional information on these risks and uncertainties, see Carmanah’s most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company’s website at www.carmanah.com. The risk factors identified in Carmanah’s AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah. 

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