Kontrol Technologies Announces Uplisting to NEO, a Canadian Senior Stock Exchange
TORONTO, May 4, 2021 /PRNewswire/ - Kontrol Technologies Corp. (CSE: KNR) (OTC: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol" or "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology, is pleased to announce that it has received final approval to list its common shares on the NEO Exchange (the "NEO") and intends to voluntarily delist its common shares from the Canadian Securities Exchange (the "CSE"). To ensure continued and seamless trading for the Company's shareholders, the Company's common shares are expected to be delisted from the CSE at the close of trading on May 5, 2021 and listed for trading on the NEO under the trading symbol "KNR" at the open of trading on May 6, 2021. The transition is not expected to impact current investors ability to trade shares of Kontrol.
"Following a strategic review of a senior Canadian uplisting we selected the NEO Exchange as our preferred platform," says Paul Ghezzi, CEO of Kontrol Technologies. "The NEO shares our passion for technology and innovation and provides a transparent platform for all investors. We are looking forward to increased exposure and visibility as well as access to a larger pool of institutional investors, both in Canada and the U.S."
Normal Course Issuer Bid
The Normal Course Issuer Bid (NCIB) undertaken on the CSE that was announced on March 24, 2021, shall terminate, effective upon the Company's delisting from the CSE. The Company intends to implement a new NCIB program, to be announced at a later date, once the Company is listed on the NEO.
Annual Information Form
As part of its listing on the NEO the Company will file its Annual Information Form on SEDAR prior to Ma 6, 2021.
About Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol Technologies provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward- looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
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, 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. Kontrol BioCloud™ is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
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 are based on the beliefs, estimates, expectations, and opinions of management on such date.
Kontrol 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 or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
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SOURCE Kontrol Technologies Corp.