Kontrol Technologies Provides Corporate Update

Rhea-AI Summary

Kontrol Technologies Corp. achieved a monthly record of approximately $23 million in new request for quotations in December 2021. This growth positions the company for substantial growth into 2022, with over $35 million in potential revenue opportunities. Strategic initiatives for 2022 include uplisting to a major US stock exchange and expanding energy management technologies across North America.

Positive

• Recorded approximately $23 million in new requests for quotations in December 2021.
• Currently quoting over $35 million in potential revenue opportunities.
• Plans to uplist to a major US stock exchange indicating growth strategy.
• Focus on sustainability and energy conservation is a strong market driver.

Negative

• A request for quotation does not guarantee revenue-generating projects.

Achieves Monthly Record Issued Request for Quotations in December 2021

Provides Key Strategic Initiatives for 2022

TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, today provided a corporate update on its operations and strategic initiatives.

Request for Quotations

In December 2021, the Company issued a monthly record of approximately $23 million in new request for quotations, driven by continued growth across its operating platform. Kontrol is currently quoting more than $35 million in new potential revenue opportunities.

“We continue to expand opportunities within our existing customer base while working diligently to scale into additional markets with new customers,” said Paul Ghezzi, CEO of Kontrol Technologies. “Achieving a record month of quotations positions Kontrol for a continuation of substantial growth into 2022. Our core focus on sustainability, energy conservation, and greenhouse gas emission reduction are key drivers of our operating platform’s expansion.”

Kontrol provides request for quotations on an ongoing basis across its customer base. A request for quotation does not always result in a revenue generating project or opportunity. Historically, the Company has been able to convert more than 2/3^rd of its request for quotations into revenue generating opportunities.

Key Strategic Initiatives for 2022

Following a year of record growth in 2021, Kontrol is focused on a number of key strategic initiatives for 2022 including but not limited to:

1. Uplisting to a major US stock exchange
2. Acceleration of Kontrol BioCloud through key distribution partners
3. Continued expansion of the Company’s energy management technology platform across North American markets
4. Leadership in ESG initiatives and reporting
5. Continued strong organic growth within its existing markets through its cross-selling platform

Kontrol Technologies Corp.

Kontrol Technologies Corp. is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

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.sedar.com.

Facebook | Twitter | LinkedIn

Neither IIROC 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.

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 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 those technologies will not prove as effective as expected; those 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211228005059/en/

Kontrol Technologies Corp.

Paul Ghezzi

CEO

info@kontrolcorp.com

(905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us

+1 (949) 546.6326

Source: Kontrol Technologies Corp.

FAQ

What were the new request for quotations issued by Kontrol Technologies in December 2021?

Kontrol Technologies issued approximately $23 million in new request for quotations in December 2021.

What potential revenue opportunities does Kontrol Technologies currently have?

Kontrol Technologies is quoting over $35 million in potential revenue opportunities.

What are Kontrol Technologies' strategic initiatives for 2022?

Key initiatives include uplisting to a major US stock exchange, accelerating Kontrol BioCloud distribution, and expanding its energy management technology.

What is the significance of the record month of quotations for Kontrol Technologies?

The record month positions Kontrol for substantial growth into 2022 and reflects its operational expansion.

What is the conversion rate of requests for quotations into revenue for Kontrol Technologies?

Historically, Kontrol Technologies has converted more than 2/3 of its requests for quotations into revenue-generating opportunities.