Carmanah prepares graduation to senior exchange
I figured it was only a matter of time. Carmanah Technologies, one of the most celebrated companies on the TSX Venture exchange, has finally decided to apply for a listing on the Toronto Stock Exchange. At least that’s what I’m hearing from company officials.
Carmanah is profitable, its revenues will nearly double this year, and its technology — solar-powered LED lights — are gaining worldwide exposure. It has completed the acquisition of Soltek Powersource Ltd., and raised $10 million in a private placement last month to support expansion plans and pursue more acquisition opportunities.
Graduating to the senior exchange just makes sense, and will give Carmanah much more — and well-deserved — exposure in the investor community.
Tyler Hamilton is senior energy reporter and columnist for the Toronto Star, Canada's largest daily newspaper. In addition to this Clean Break blog, Tyler writes a weekly column of the same name that discusses trends, happenings and innovators in the cleantech market. This blog is a personal project started in April 2005. It is not an official blog of the newspaper. Tyler can be reached at tyler@cleanbreak.ca