Kontrol Technologies Corp - KNRLF STOCK NEWS

Kontrol Technologies Corp. has established a sales channel into U.S. Government procurement via the NIH CIO-CS GWAC, allowing government agencies to acquire its products. CEO Paul Ghezzi highlighted that this streamlines procurement processes for their technologies, which focus on environmental monitoring and energy efficiency. Currently, products like Kontrol BioCloud units and SmartSuite are available for purchase through this channel. The company aims to serve federal agencies as the U.S. prioritizes safe indoor environments and energy waste reduction.

Kontrol Technologies Corp. (OTCQB:KNRLF) announced its partnership with Enterprise, a public relations firm, to enhance its media presence in Canada. CEO Paul Ghezzi highlighted the importance of their smart building technology in creating healthier environments, especially as the economy reopens. The collaboration aims to boost brand awareness around Kontrol's offerings in energy efficiency and emission monitoring. Enterprise aims to leverage its expertise in storytelling to effectively communicate Kontrol's narrative during this critical period.

Kontrol Technologies Corp. has secured a $450,000 contract through its subsidiary, CEM Specialties Inc., for continuous emission monitoring systems from a new oil and gas customer in Kuwait. This deal marks an expansion into the $2.5 billion global emission monitoring market, enhancing Kontrol's footprint in the Middle East. The systems are set for delivery in Q3 2021, tailored to meet stringent regulatory demands for monitoring emissions. CEO Paul Ghezzi highlights this order as a testament to the company’s capacity to deploy advanced environmental technologies in significant energy markets.

Kontrol Technologies Corp. (NEO: KNR) announced its delivery of five BioCloud units to the Canadian Olympic Committee for real-time viral detection, enhancing Team Canada's health and safety during the Tokyo 2020 Olympic Games. BioCloud is a real-time air analyzer designed to detect airborne pathogens, ensuring safe spaces for athletes. Additionally, Kontrol is donating extra units to further support the initiative. BioCloud is not a medical device, and the company does not claim it can eliminate COVID-19.

Kontrol Technologies Corp. has engaged MZ Group for a strategic investor relations and financial communications program aimed at enhancing visibility in the investment community. The collaboration will focus on highlighting Kontrol's leadership in digital transformation for smart buildings, utilizing their proprietary technologies like BioCloud. MZ Group will support capital market strategies, coordinate roadshows, and build brand awareness. The engagement is valued at US$10,000 per month for 12 months. Kontrol aims to capitalize on opportunities in energy efficiency and sustainability management.

Kontrol Technologies Corp. has announced its intention to implement a new Normal Course Issuer Bid (NCIB) program for buying back its common shares. Approved by the board and accepted by the NEO Exchange, the program allows the purchase of up to 2,102,885 shares, approximately 5% of its outstanding shares, over a 12-month period starting June 4, 2021. The company aims to enhance value and liquidity for shareholders by purchasing shares that it believes are undervalued. Purchases will be managed by PI Financial Corporation.

Kontrol Technologies Corp. (OTCQB: KNRLF) has successfully closed a private placement, raising approximately Cdn $8.5 million. The company issued 5,666,332 units at a price of $1.50 each, with each unit comprising one common share and one-half common share purchase warrant, exercisable at $1.75 until June 1, 2024. The funds will be used for capital expenditures, working capital, and general corporate purposes. A.G.P./Alliance Global Partners acted as the exclusive placement agent in the U.S.

Kontrol Technologies Corp. (OTCQB: KNRLF) announced a partnership with a leading commercial real estate manager to deliver real-time viral detection insights using its BioCloud technology. This initiative aims to facilitate safer environments as economies reopen post-pandemic. The Company will provide multiple BioCloud units over a two-week period, allowing the Commercial Manager to assess the technology's value. Following this, a purchase or lease option will be available. BioCloud, designed for various shared spaces, aims to improve air quality monitoring and safety.

Kontrol Technologies Corp. (KNRLF) reported strong Q1 2021 results with revenues of $3.3 million, reflecting a 20% increase year-over-year. Adjusted EBITDA rose to $1.1 million from $241,343 in Q1 2020. Cash flow from operations stood at $592,153, an improvement of $610,964 year-over-year. The company has invested approximately $4 million in its BioCloud technology development and has successfully converted $631,000 of convertible debentures to shares. Despite encountering project delays due to COVID-19, management maintains revenue and EBITDA targets.