Carmanah Signs Estimated $10 Million Non-Binding Letter of Agreement

News Release Carmanah Technologies Inc. July 9, 2012

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Provision of aids to
navigation
VICTORIA,
BRITISH COLUMBIA, CANADA (July 6, 2012) Carmanah
Technologies Corporation (TSX:CMH) today announced that the Company has entered
into a non-binding letter of agreement with one of Carmanah’s Master
Distributors for the procurement, commissioning and installation of aids to
navigation (“AToN”) within a broader significant marine project on a major
navigable waterway in South America. The scope of this agreement will include
Buoys and Fixed Aids as well as Carmanah’s proprietary Floating Aids. The
agreement is subject to funding and technical specifications finalization by all
parties. This is expected to be completed within the next 30 days, at which time
more details will be disclosed.
"The
project provides the catalyst for us to complete development on our <A
title=blocked::http://www.carmanah.com/marine/products/m708-marine-lantern
href="redir.aspx?C=c3c1b65a1b1544c790ea80ff612e3375&URL=http%3a%2f%2fwww.carmanah.com%2fmarine%2fproducts%2fm708-marine-lantern"
target=_blank>708 series light</A> with the inclusion
of Automatic Identification System (“AIS”) as well as Global System for Mobile
Communications (“GSM”) communication. Together with our partner Sabik we will
leverage technologies from both companies in this solution," Bruce Cousins, CEO
of Carmanah, commented. “In addition, Carmanah will remain prime in this
contract for all AToN and work closely with marine buoy and fixed aid partners
in fulfilling on the agreement.”

There
can be no assurances that the transactions contemplated in the non-binding
letter of agreement will be completed as currently anticipated, or at all.

 About
Carmanah Technologies Corporation
As
one of the most trusted names in solar technology, Carmanah has earned a
reputation for delivering strong and effective products for industrial
applications 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
pursues its business strategy within six distinctive product offerings: outdoor
lighting, marine signals, aviation signals, traffic signals, grid-tie and
mobile. Carmanah is actively seeking additional product sales opportunities to
add to its top line revenue, as well as extending existing product lines through
internal development efforts, strategic business relationships and focused
acquisitions. Carmanah is a publicly traded company, with common shares listed
on the Toronto Stock Exchange under the symbol "CMH”. For more information,
visit <A
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href="redir.aspx?C=c3c1b65a1b1544c790ea80ff612e3375&URL=http%3a%2f%2fwww.carmanah.com%2f"
target=_blank>www.carmanah.com</A></DIV></BODY></HTML>