Carmanah Technologies' Sale of Solar EPC

Following a strategic review by the Board of Directors, Carmanah concluded that it's Solar EPC business was no longer strategic. Carmanah retained Alexander Capital to solicit interest in acquiring the business in the fall of 2016. After a broad canvass of the market involving strategic and financial buyers in an auction-style process, Carmanah selected public-company UGE International as the finalist.

The sale of Solar EPC in April 2017 allowed Carmanah to make a clean exit from the business while ensuring continuity for the employees at UGE. It also generated significant cash for the treasury to support further growth in Carmanah's core businesses.

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