Carmanah Technologies Corporation (TSX Venture: CMH) achieved Tier 1 status on the TSX Venture Exchange. This reclassification recognizes the management experience and current financial strength of the Company.
Said Art Aylesworth, Carmanah’s CEO, “This is another step in the maturing of the Company and confirms the overall strength of Carmanah’s business strategy.”
The achievement of Tier 1 status follows the recent release of the Company’s December 31, 2004 audited year end results. Carmanah has maintained its annual growth rate of approximately 70% over recent years while retaining healthy average gross margins and record profitability.
This increased status should ease Exchange procedures, and facilitate transaction approvals and reporting requirements, as well as allow more flexibility with respect to future financings.
Carmanah manufactures proprietary LED-based lighting and illumination products for the public transit, marine, aviation, roadway, and industrial worksite and illuminated signage markets. The Company has more than 100,000 solar-powered LED lighting installations and 50,000 LED illuminated sign installations in 110 countries. The shares of Carmanah Technologies Corporation are publicly traded on the TSX Venture Exchange under the symbol “CMH” and on the Berlin and Frankfurt Stock Exchanges under the symbol “QCX”.
Loading...