Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CALDWELL JOHN E
   2. Issuer Name and Ticker or Trading Symbol
SMTC CORP [SMTX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last)
(First)
(Middle)
635 HOOD ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
03/21/2005
(Street)

MARKHAM, A6 L3R 4N6		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant to Purchase Exchangeable Shares $ 7.64 (1) (2) 03/21/2005   P   140,000     (7) 03/03/2009 Exchangeable Shares of SMTC Canada (3) 28,000 $ 0.53 (4) (5) 543,000 (6) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CALDWELL JOHN E
635 HOOD ROAD
MARKHAM, A6 L3R 4N6		   X     Chief Executive Officer  

Signatures

 /s/ John E. Caldwell   04/18/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Exercise price per Exchangeable Share, with each warrant being exercisable for one-fifth of one Exchangeable Share of SMTC Manufacturing Corporation of Canada.
(2) The exercise price of each warrant is CDN$9.25 per one Exchangeable Share, with each warrant being exercisable for one-fifth of one Exchangeable Share (the value in the table has been converted to United States dollars using an exchange rate of CDN$1.2105 per US$1.00).
(3) Subject to applicable legal requirements, the Exchangeable Shares of SMTC Manufacturing Corporation of Canada are exchangeable on a one-for-one basis for shares of Common Stock of SMTC at the option of the holder.
(4) Per warrant.
(5) The purchase price of each warrant was CDN$0.637 (the value in the table has been converted to United States dollars using an exchange rate of CDN$1.2105 per US$1.00).
(6) Total includes 203,000 options to purchase Common Stock of SMTC, 200,000 Options to purchase Exchangeable Shares of SMTC Manufacturing Corporation of Canada and 140,000 warrants to purchase Exchangeable Shares of SMTC Manufacturing Corporation of Canada.
(7) Each warrant is currently exercisable as of the date of the event requiring this statement.

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