Tuesday, 03 September 2019 09:25 AM
Company Update
TORONTO, ON / ACCESSWIRE / September 3, 2019 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology is pleased to provide a corporate update relating to progress of operations.
Highlights
- Kontrol previously announced on March 14, 2019 that it had entered into a letter of intent to acquire an established and leading provider of electrical retrofit services. Subject to receipt of the target’s August 31, 2019 fiscal year end financial statements, finalizing the definitive purchase agreement and the satisfaction of customary conditions, closing is anticipated to occur in Q4 2019
- Updated version of SmartMax® Gateway, SmartSite® and SmartSuite® technology to launch in November 2019
- Expansion into the plant-based protein sector through Kontrol’s wholly owned operating subsidiary, CEM Specialties (“CEM”). CEM specializes in the installation and integration of specialized process improvement and monitoring equipment and technology.
Energy Management Technology
Kontrol continues to build out its suite of energy management technology solutions. The Company anticipates launching in November 2019 an integrated platform with a focus to accelerate growth in SaaS (Software as a Service) revenues. The integration of SmartMax® Gateway, SmartSite® and SmartSuite® software technology will provide asset managers, building owners and tenants the opportunity to save up to 30% in energy costs across commercial and multi-residential buildings. For Cannabis facilities energy savings can be up to 50% per annum when Kontrol’s energy management technology is integrated with Co-generation solutions.
Director
Mr. Geoff Lafleur has resigned as a Director to the Company. Paul Ghezzi, CEO of the Company stated: "I would like to thank Geoff for his to service to the Company as a director and wish him well.”
The Company is currently interviewing a number of potential Board candidates and will seek to add two independent Board members with specific industry experience aligned with the Company’s strategic growth plan.
About Kontrol Energy
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Kontrol Energy was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean’s.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com
For further information, contact us at [email protected] Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
For further information, contact:
Paul Ghezzi, Chief Executive Officer
[email protected]
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding possible future acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth, Adjusted EBITDA, expansion of smart energy technologies into US markets, strategic partnerships to expand into North American Markets, acceleration of recurring SaaS revenues, the provision of solutions to customers and Greenhouse Gas emissions reductions, proposed financial savings and sustainable energy benefits and energy monitoring. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable securities law.
SOURCE: Kontrol Energy Corp.