Vancouver, BC, Canada - (October 21, 2004) - Carmanah Technologies Corporation (TSX VE: CMH; Berlin and Frankfurt Stock Exchanges: QCX), is pleased to announce the appointment of Mr. Michael Ball as Vice President of Sales and Marketing for the company.
"We are very pleased that Mr. Ball has joined the Carmanah team", says Art Aylesworth, Carmanah's CEO. "Michael has an impressive sales and marketing track record in both North America and Europe. He is a strong addition to the company and we feel privileged to have enticed him to join us on Vancouver Island."
Mr. Ball has sixteen years of international marketing and business development experience in technology companies, including five years with Vancouver-based Creo Products Inc. Mr. Ball worked with Creo from 1995 to 2000, during which time the company's revenue increased tenfold, from $70 million to $700 million.
Creo is a world-leading supplier of computer-to-plate (CTP) systems to the graphic arts and printing industries. From 1997 to 1999, Mr. Ball served as the Vice President of Sales, Service and Support for Creo's European operations, based in Belgium. During his tenure, sales revenues of the European division grew from $15 million to $70 million and the staff grew from 30 to over 100 people. A key success factor in Europe was his development of a strong distribution network of value-added resellers. Mr. Ball also participated in the acquisition of Creo's largest competitor, Scitex, as well as other merger and acquisition projects.
In 1999, Mr. Ball returned to Canada to take on the role of Vice President of Business Development. In this role, Michael was responsible for developing Creo's successful business-to-business e-commerce strategy.
Between 2000 and 2002, Mr. Ball assisted various BC technology firms with strategic planning and market development activities as an independent consultant.
In October 2002, Mr. Ball joined Carmanah as head of it's successful sales and marketing team, which continues to expand growth and establish Carmanah as an industry leader of solar-powered LED lighting products. Since 1998, Carmanah's revenues have increased at an average annual rate of 80%.
On Behalf of the Board of Directors
Carmanah Technologies Corporation
Praveen Varshney, Director
For further information, please contact.
Mr. David Davies
Telephone: (250) 382-4332
Mr. Praveen Varshney, Director
Telephone: (604) 629-0264
Fax: (604) 682-4768
Investor Relations Contact:
Vanguard Shareholder Solutions
Telephone: (604) 608-0824
Fax: (604) 601-2004
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in our Annual Report for the fiscal year ended December 31, 2001, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. These risks and uncertainties are also described under the caption "Risk Factors" in our Annual Information Form dated December 31, 2001, as filed with the British Columbia Securities Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this press release.