Carmanah terminated merger with Lightech

Solar LED lighting manufacturer Carmanah terminated merger with Lightech, a driver manufacturer based in Israel, but the reason was not clear.

A leader of Carmanah said, the decision to terminate the Lightech agreement was a very difficult one, but after due deliberation, the Board of Directors determined that it was the only decision that could be made in light of the fact that the financing condition is incapable of being fulfilled by December 31, 2010.

However, Lightech noted that Carmanah's stated reasons for terminating its Merger Agreement with Lightech were entirely without merit. Lightech also said that Carmanah had failed to discharge its obligations under the Merger Agreement.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<

Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.