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Carmanah Ceases Work on Joint Development Contract

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VICTORIA, BRITISH COLUMBIA–(Marketwired – Sept. 22, 2015) – Carmanah Technologies Corporation (TSX:CMH) (“the Company” or “Carmanah”) today announced that it has reached a mutual settlement to cease efforts on a joint project to develop landing lights with Tactical Lighting Systems Inc. (“Tactical”) as previously announced on May 19th, 2015. The original contract was awarded on a cost-plus-incentive-fee basis to Tactical by the United States Naval Air Warfare Center (“NAVAIR”), Aircraft Division. Within this contract Carmanah was to be a sub-contractor to Tactical. As part of the settlement, Tactical has reimbursed Carmanah for …read more

Read more here:: http://www.marketwired.com/mw/release.do?id=2057745&sourceType=3


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