Industrial Alliance analyst Steve Li says Lorex Technologies is the 2012 Canadian Tech Stock of the Year. Unfortunately, he points out, the company will be soon be acquired by FLIR Systems.

Over the next few days, we’ll be rolling out the nominees for the 2012 Cantech Letter Awards. These awards, our third annual, will be different for a couple reasons.

First, we’re very grateful to have the awards sponsored by the Toronto Stock Exchange and TSX Venture Exchange. Cantech Letter, the award winners, and many of the analysts who will vote on the awards will open the trading day on TSX and TSXV on Friday, January 11, 2013, with an official Market Open Ceremony.

The second change this year is in the number of awards. For the first two years there were just two trophies, one for the Canadian Tech Stock of the Year and one for the Canadian Tech Stock Executive of the Year. This year we have added a separate category for TSX Venture Technology stock. All companies listed on the TSXV Technology, Cleantech and Life Sciences Sectors are eligible for the awards.

We have asked our judges to concentrate first on the TSX Venture Exchange. We’ll announce the finalists in this category next week and allow you to vote. Today, we look at the first returns, courtesy of Industrial Alliance analyst Steve Li….

2012 Canadian Tech Stock of the Year

1. Lorex Technologies (TSXV:LOX): Strong execution. Unfortunately being acquired by FLIR Systems.

2. Sylogist (TSXV:SYZ): Strong stock performance and growing dividend.

3. Amaya Gaming (TSXV:AYA): Successful M&As has propelled the company to become a leading provider of gaming solutions.

2012 TSXV Canadian Tech Stock Executive of the Year

1. Jeffrey J. Ciachurski, Western Wind Energy (TSXV:WND): For running its sales process despite Brookfield Renewable Energy Partner’s tempting $2.50 bid.

2. Sam Chebib, Nightingale Informatix (TSXV:NGH): Delivered Nightingale first consecutive profitable quarters with strong growth outlook.

3. Art Smith, Cortex Business Solutions (TSXV:CBX): Building a promising business model.

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