Kontrol Technologies Announces Completion of Normal Course Issuer Bid Through Cboe Canada

Rhea-AI Summary

Kontrol Technologies Corp. (Cboe CA:KNR, OTCQB:KNRLF, FSE:1K8) has completed its Normal Course Issuer Bid (NCIB) program to repurchase common shares through Cboe Canada or alternative trading systems. The NCIB, which commenced on April 5, 2024, and ends on April 4, 2025, saw Kontrol purchase 2,580,500 common shares at an average price of $0.21 per share, totaling $564,410. The company now has 55,157,169 common shares outstanding.

Kontrol Technologies is a Canadian public company specializing in smart buildings and cities through IoT, Cloud, and SaaS technology, focusing on energy management, continuous emissions monitoring, and sustainability. For more information, visit their website or their SEDAR+ profile.

The press release includes forward-looking statements regarding future testing, product success, and customer demand, subject to various risks and uncertainties.

Positive

• Completion of NCIB program with the repurchase of 2,580,500 shares at an average price of $0.21 per share.
• Total value of shares repurchased amounts to $564,410.

Negative

• Forward-looking statements indicate potential risks including insufficient capital, ineffective technology, and lack of customer acceptance.

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (Cboe CA:KNR) (OTCQB:KNRLF) (FSE:1K8) ( “Kontrol” or the “Company”) announces the that it has completed its previously filed Normal Course Issuer Bid (the "NCIB") program to buy back common shares of Kontrol through the facilities of Cboe Canada (“Cboe Canada”) and/or alternative trading systems.

Under the NCIB, which commenced on April 5^th, 2024, and ends April 4^th, 2025, Kontrol purchased 2,580,500 common shares at an average price of $0.21 per share for a total value of $564,410.00 The Company currently has 55,157,169 common shares outstanding.

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 provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR+ at www.sedarplus.com

Neither CIRO nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

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. Forward-looking information contained in this press releases includes, but is not limited to, the following: future testing to be conducted by Kontrol of its products; the future success of any of Kontrol’s products; and customer demand relating to air quality and water testing products.

Where Kontrol 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; that future testing can be conducted as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; and that demand will continue for air quality or water monitoring products and for the Company’s products in particular.

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 the Company’s 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/or that demand for such products and services will not continue; that the Company’s test results will not be replicated in the future or that future testing will not be conducted; that the Company will not maintain its existing relationships or contracts on the same terms or at all; 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250403382562/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

1.844.566.8123

Source: Kontrol Technologies Corp.

FAQ

What is the impact of Kontrol Technologies' NCIB completion?

Kontrol Technologies repurchased 2,580,500 shares at an average price of $0.21 per share, totaling $564,410.

When did Kontrol Technologies' NCIB program start and end?

The NCIB program started on April 5, 2024, and ends on April 4, 2025.

How many shares does Kontrol Technologies have outstanding after the NCIB?

Kontrol Technologies now has 55,157,169 common shares outstanding.

What is the average price at which Kontrol Technologies repurchased shares under the NCIB?

The average price for repurchased shares was $0.21 per share.

What are the risks mentioned in Kontrol Technologies' press release?

Risks include insufficient capital, ineffective technology, and lack of customer acceptance.