The stock has been performing tremendously since I bought in at $1.16. I believe we are looking at a $3 stock within six months.
Today's news is terrific.
CARMANAH TECHNOLOGIES CORPORATION
www.carmanah.com
Investor E-mail Update
Issued: Tuesday, January 20, 2004
-----------------------------
In This Issue:
1. U.S. Coast Guard Approves LEDs For Private Aids-to-Navigation
2. New Case Study Presentation Available Online
3. Update On The Transit Sector
4. U.S. Air Force Installs Carmanah Taxiway Edge Lights
At Ali Al Salem AFB, Kuwait
5. AVVA Subsidiary Update
6. Carmanah Ranks #330 Fastest Growing Company in North America
7. Staff Profile: Mr. Tim Lo
8. Recent Media Highlights
9. How U.S. Investors Can Buy CMH Shares
-----------------------------
1. U.S. COAST GUARD APPROVES LEDS FOR PRIVATE AIDS-TO-NAVIGATION
On December 8, 2003, the U.S. Coast Guard enacted a long-awaited
regulation that will allow private aids-to-navigation (PATONs)
to use light-emitting diodes (LEDs), versus incandescent light
bulbs. Tens of thousands of PATONs in the U.S. will now be
allowed to use Carmanah's solar-powered LED lights as a low-cost
lighting alternative.
"This U.S. Coast Guard endorsement of LED solid state lighting
marks a watershed in marine lighting equivalent to the shift
from kerosene to electricity in the last century," states
Carmanah's CEO, Art Aylesworth. "Carmanah is leading the market
with a range of LED lights that already meet the new standards.
In fact, we have been perfecting these lights for years for U.S.
federal navigation aids and other marine applications."
Carmanah began building solar-powered LED lights for the U.S.
Coast Guard's federal aids-to-navigation in 1999. PATONs,
however, include all marine navigation aids owned and maintained
by bodies other than the Coast Guard, including other branches
of federal government, state and municipal governments,
corporations, small businesses and individuals. These "private"
applications account for more than half of the
aids-to-navigation registered in the U.S.
The new rule, effective March 8, 2004, will replace the
requirement to use tungsten-incandescent bulbs in PATONs with a
performance-based standard that will allow the use of LEDs.
"Final approval to use LEDs in PATONs has been a long time
coming," states Carmanah's Marine Division Manager, Mimi Drabit.
"We have already proven our technology by meeting the strict
regulatory standards for federal navigation aids. Now we can
also serve the larger consumer / private aids market with LED
solutions that are less expensive and more durable than
traditional lighting with the added incentive of being
maintenance-free."
For more information, please visit
www.solarmarinelights.com
-----------------------------
2. NEW CASE STUDY PRESENTATION AVAILABLE ONLINE
In the last Investor Update (issued Monday, Sept 15, 2003),
Carmanah announced that it was supplying lights for a USCG
Humanitarian Mission in Iraq. Carmanah now has a full
presentation of this mission available online. To access the
presentation, please click on the following link:
www.solarmarinelights.com/presentations/khawr_abd_allah.html
-----------------------------
3. UPDATE ON THE TRANSIT SECTOR
In August 2003, Carmanah announced a contract with Trueform
Group (U.K.) for approximately $1.6 million in solar-powered bus
shelter lighting systems. Trueform is in the process of
outfitting an estimated 300 bus shelters with solar / LED
illumination within Greater London. In late 2003, Carmanah
delivered the initial half of the order and is now manufacturing
the remaining units for delivery in the first quarter of 2004.
To review the news release, visit:
www.carmanah.com/index.asp?a=iv&m=news&s=030821
On November 5, 2003, Carmanah's London Bus Stop received "High
Commendation" for innovation at the 8th annual UK Bus Industry
Awards. The solar-powered, LED-illuminated stops are a
significant part of a Transport for London (TfL) bus stop
project, which received recognition in the "BP Innovation Award"
category. Carmanah has recently provided another handful of the
solar bus stops which are to be installed at high visability
locations throughout Greater London in early 2004 which are
intended to further increase exposure for this technology. A
request for budget dollars has been made by London Transport to
begin a significant rollout of stops in London for the fiscal
year 2004/2005.
-----------------------------
4. US AIR FORCE INSTALLS CARMANAH TAXIWAY EDGE LIGHTS AT ALI AL
SALEM AIR FORCE BASE, KUWAIT
The US Air Force recently purchased an additional 700 Carmanah
solar-powered LED taxiway edge lights to be installed at Ali Al
Salem Air Base in Kuwait. The recent purchase is in addition to
300 units previously ordered.
As well, an additional 280 taxiway edge lights were relocated
from the now closed Al Jaber Air Force Base. With Carmanah's
unique fully-integrated solar LED design, USAF personnel were
able to quickly remove, transport and reinstall the taxiway edge
lights at Ali Al Salem Air Base with minimal technical
expertise. The total number of Carmanah taxiway edge lights at
Ali Al Salem now totals approximately 1280 fixtures.
Carmanah's solar powered LED taxiway edge lights have provided
tremendous economic benefits for the Ali Al Salem Air Base.
Total savings can be calculated in the millions of dollars, as
the need for power, wiring, cabling, regulators, supporting
infrastructure, and ongoing maintenance was eliminated.
There are now more than 4,000 Carmanah Aviation lights installed
at more than 25 US Air Force and Army bases in the Middle East,
Southwest Asia, and North America. For more information, please
visit www.solarairportlights.com.
-----------------------------
5. AVVA SUBSIDIARY UPDATE
On October 30, 2003, Carmanah announced that its wholly-owned
subsidiary, AVVA Light Corp., received a $314,000 contract for
specialty edge-lit point of purchase (POP) signage. This order
represented the second major order in 2003 from the same
purchaser, a multinational company. For more information:
www.carmanah.com/index.asp?a=iv&m=news&s=031030
From January 8-9, 2004, full day management meetings were held
in Calgary, AB. Attendees included senior management from both
Carmanah and AVVA. 2004 sales strategies were developed for
each of AVVA's vertical markets, including "battle plans" and
resource allocation for accelerated market penetration. The
market potential for AVVA's edge lit LED illumination technology
is extremely exciting, and Carmanah is confident that AVVA can
become a major worldwide supplier of illuminated signage.
-----------------------------
6. CARMANAH RANKS #330 FASTEST GROWING COMPANY IN NORTH AMERICA
In October 2003, Carmanah was ranked #330 in the 7th annual
"Deloitte Technology Fast 500", as ranked by growth rate from
1998 and 2002. The Deloitte Technology Fast 500 is a North
American ranking; those chosen for the Fast 500 must outperform
other companies represented by Deloitte's 20 regional U.S. and
Canadian Fast 50 programs, all nominations submitted directly to
the Technology Fast 500, as well as a public company database
research.
For more details, you can visit the official web site for the
Deloitte Technology Fast 500:
www.public.deloitte.com/fast500/
-----------------------------
7. STAFF PROFILE
Mr. Tim Lo
Manufacturing Manager
Carmanah is pleased to introduce Mr. Tim Lo, the Company's
Manufacturing Manager. Mr. Lo joined Carmanah in August 2003,
and is responsible for the production and on-time delivery of
the Company's core products to customers. Mr. Lo also oversees
Carmanah's ongoing Process Engineering efforts, which are
refining the Company's manufacturing capabilities and methods in
anticipation of planned growth targets.
Prior to joining Carmanah, Mr. Lo served as Production Manager
of JDS Uniphase (San Jose, CA) from November 2002. In this
capacity, he managed the production and pilot line that
assembled hermetically sealed fiber optic laser modules used for
telecommunication and CATV applications. During this time he
initiated Kanban and 5S throughout key operations with the
production line, lead production transfer to new manufacturing
site and managed the production qualification builds for all
products.
Other key positions included:
- Engineering Section Manager of JDS Uniphase
(Victoria, BC) from 2000 to 2002
- Mechanical Designer and Project Manager in the New
Product Development Group of Seastar Optics
(Victoria, BC) from 1998 to 2000
- Mechanical Designer and Production manager at Axys
Environmental Systems (Sidney, BC) from 1995 to 1998
As an interesting side note, Mr. Lo is registered as the
inventor of US Patent #5624059, "Device for Dispensing Corrosive
Liquids Accurately and Without Contamination".
Mr. Lo brings to Carmanah a versatile skill set and an extensive
background in both engineering and manufacturing. He has
quickly become an integral part of the Company's management team.
-----------------------------
8. RECENT MEDIA HIGHLIGHTS
Jan 8, 2004 - Vancouver Sun, B.C. Firm Lights Up Afghan Base
www.carmanah.com/index.asp?a=iv&m=media&s=jan08_04
Dec 1, 2003 - Maclean's Magazine, A Brighter Future
www.carmanah.com/index.asp?a=iv&m=media&s=dec01_03
Nov 27, 2003 - Chicago Tribune, Pace Installs Solar-powered Bus
Stops
www.carmanah.com/index.asp?a=iv&m=media&s=nov27_03
Sept 17, 2003 - CBC Newsworld, National Carmanah Profile
www.carmanah.com/index.asp?a=iv&m=media&s=sep17_03
- streamed video available!
-----------------------------
9. HOW U.S. INVESTORS CAN BUY CMH SHARES
As the Company gains more and more international exposure, a
number of inquiries are coming in from U.S. investors seeking
assistance with purchasing Carmanah's common stock. In North
America, Carmanah is currently only listed on the Canadian TSX
Venture Exchange (TSX VE) under the ticker symbol "CMH".
However, Carmanah is a fully reporting issuer in the United
States and its registration statement on form "20-F" is filed
with the Securities and Exchange Commission (SEC). A document
is now available on Carmanah's web site with some guidance and
the appropriate links or contact numbers for American investors:
www.carmanah.com/index.asp?a=iv&m=us_inv
------- END OF UPDATE -------
Comments or questions? Do you know anyone else who should
receive this or future updates? Please contact Mr. Dave Davies
at ddavies@carmanah.com.
CARMANAH TECHNOLOGIES CORPORATION
TSX Venture Exchange: "CMH"
Berlin and Deutsche Borse AG: "QCX"
(Security Code : WKN662218)
Building 4, 203 Harbour Road
Victoria, BC, Canada V9A 3S2
Toll-free: 1-877-722-8877
Worldwide: +1 (250) 380-0052
Fax: +1 (250) 380-0062
Investor Inquiries:
Mark Komonoski
Director
Toll-free: 1-800-665-3749
Carmanah is a fully reporting issuer in the United States.
Registration Statement on form "20-F" filed with the SEC.
-----------------------------
This release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are
based on management's current expectations and beliefs and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties are
described under the caption "Note Regarding Forward-looking
Statements" and "Key Information - Risk Factors" and elsewhere
in our Annual Report for the fiscal year ended December 31,
2002, as filed with the U.S. Securities and Exchange Commission
and which are incorporated herein by reference. These risks and
uncertainties are also described under the caption "Risk
Factors" in our Annual Information Form dated December 31, 2002,
as filed with the British Columbia Securities Commission and
which are incorporated herein by reference. We do not assume any
obligation to update the forward-looking information contained
in this press release. |
