Carmanah Receives Solar Outdoor Lighting Purchase Orders Valued at $1.5M USD
VICTORIA, British Columbia--(BUSINESS WIRE)--Carmanah Technologies Corporation (TSX:CMH) today announced that it has received purchase orders from a single customer for $1.5M USD for solar outdoor lights and hardware. Carmanah is making this disclosure as it has determined that these orders are material in the context of applicable securities regulations and as such require timely disclosure.
These solar lighting systems have been ordered for use in street lighting applications outside of North America. The purchase orders will be filled in two stages with the first order scheduled for shipment in the first quarter of 2014. The following order is expected to be confirmed and ship in the second quarter of 2014.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective solar products for roadway, marine, airfield, traffic and obstruction applications worldwide. With products proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights, signalling and solar power systems provide durable, dependable and cost effective alternatives. 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.
Carmanah Technologies Corporation:
Stuart Williams, (250) 380-0052
Chief Financial Officer/Corporate Secretary
Statements contained in this news release relating to future results, events or developments and statements containing the words "believes," "may," "could", "plans," "will," "estimate," "continue," "anticipates," "intends," "expects", “goal” and similar expressions, are "forward-looking statements" or “forward-looking information” under applicable Canadian securities laws. Forward-looking information relates to future events or future performance and reflects management of Carmanah’s expectations or beliefs regarding future events. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to: the fulfillment and shipment of the first purchase order, confirmation of the second purchase order, the fulfillment and shipment of the second purchase order, and receipt of payment for both purchase orders. Forward-looking statements or information are subject to the related assumptions made by Carmanah and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from those expressed or implied by such statements or information. Such factors and assumptions include, but are not limited to: the purchaser honoring the terms of the purchase orders and our ability to fulfill the purchase orders in a timely manner. Given these uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. We disclaim any obligation to update, or to publicly announce any revisions to, any such statements or information to reflect future results, events or developments, except as required by law.