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Carmanah Technologies Corporation and Laser Guidance Inc. Sign New Long-Term Exclusive Agreement

Dépèche transmise le 18 avril 2012 par Business Wire

VICTORIA, British Columbia--(BUSINESS WIRE)--Carmanah Technologies Corporation (TSX: CMH)(Pink Sheets: CMHXF) and Laser Guidance Inc., a pioneer in aviation precision guidance systems, have signed a new five year Exclusive Cooperation Agreement. Under the terms of the agreement, Carmanah will have the exclusive world-wide marketing license for a portfolio of Laser Guidance aviation navigation aids including versions of Precision Approach Path Indicators (“PAPIs”), Helicopter Approach Path Indicators (“HAPIs”) and Medium Intensity Approach Light System with Runway Alignment Indicator Light (“MALSR”). In addition, both companies will cooperate on a wide range of strategic development and manufacturing efforts, as well as marketing campaigns. The agreement represents a formal recognition of a long-standing successful working relationship and unites two world market leaders in complementary aviation lighting technologies. Carmanah and Laser Guidance will now be able to offer a comprehensive suite of aviation lighting solutions including a precision approach runway lighting capability.

“We are very pleased to partner with Laser Guidance”

“We are very pleased to partner with Laser Guidance,” said Carmanah CEO Bruce Cousins. “There is an enormous synergy between Carmanah’s offerings to the aviation community and the Laser Guidance product line. Together we provide an incredible range of airfield lighting solutions. The global movement toward more energy efficient and solar powered airfields and continuing advancements in aviation lighting technology are creating radical changes in how airfields all over the globe operate. Carmanah, our partner ADB, and now Laser Guidance are leading that change.”

Dr. David Shemwell, Laser Guidance CEO, stated, “Partnering with Carmanah is a very exciting development. Both companies have led the way in research and development for decades, and each has brought new technology from the lab to the airfield with consistent, high-quality results. We believe both organizations and the aviation community as a whole will benefit from the partnership’s extensive experience, market knowledge, and expanded range of products.”

About Carmanah Technologies Corporation

As one of the most trusted names in solar LED technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications, including aviation lighting, 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 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.

About Laser Guidance

Laser Guidance Inc. formed in 1993 to commercialize the laser based precision guidance systems invented by the two founding principles: Dr. David Shemwell and Dr. Alan Vetter. These systems are used to guide aircraft and other vehicles during critical landing or docking phases of operation. Since its inception Laser Guidance product development activities have expanded into the areas of propulsion, medical instrumentation, GPS guidance, and telecommunications. For more information, visit www.laserguidance.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,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will” or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties. 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. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.