KONTROL TECHNOLOGIES CORP - KNRLF STOCK NEWS

Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) has provided a corporate update, highlighting progress toward its 2021 goals. The company anticipates FY 2021 revenue of $33 million to $35 million, significantly up from $13 million in FY 2020, with expected adjusted EBITDA of $3.7 million compared to $2.0 million the previous year. The revenue mix is projected at 70% from core business and 30% from BioCloud. The company has reduced its debt by about $4 million and continues to pursue its uplisting strategy, indicating a positive outlook amidst challenges posed by COVID-19.

Kontrol Technologies Corp. (CSE: KNR, OTCQB: KNRLF) announces an update on its manufacturing capacity related to the Ontario Together Fund. The company has received $1.2 Million of the total $2 Million funding for BioCloud production. To secure the remaining $800,000, it must increase production to 20,000 units/month. Improvements in production processes have been made, though challenges remain in the global supply chain, particularly concerning electronic components. The BioCloud unit is designed for real-time detection of airborne viruses, crucial for safer environments during the pandemic.

Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) has announced plans for a normal course issuer bid (NCIB) allowing the purchase of up to 2,061,236 common shares over the next 12 months, starting March 25, 2021. This represents about 5% of the total shares outstanding as of March 24, 2021. The board believes the current market price does not reflect the company's growth opportunities, aiming to enhance shareholder value. Previous NCIB saw the purchase of 30,500 shares at an average price of $0.58 CDN. The purchases will be executed by PI Financial Corporation.

Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) has partnered with Canadian Sport Institute Pacific to implement its Kontrol BioCloud viral detection technology at the Whistler Athletes Centre. This real-time analyzer detects airborne pathogens like COVID-19, enhancing safety for athletes training for the Tokyo Olympics. Paul Ghezzi, CEO, emphasizes the technology's role in restoring normalcy in athletics. The partnership supports athletes under strict COVID-19 protocols, allowing high-performance training while minimizing health risks.

Kontrol Technologies Corp. (CSE: KNR) (OTCQB: KNRLF) announced a collaboration with Foyer Richelieu Welland, a long-term care facility in Ontario, to implement its Kontrol BioCloud technology. This real-time viral detection system aims to monitor airborne pathogens, including COVID-19. CEO Paul Ghezzi emphasized the importance of BioCloud in creating safer environments, especially in light of ongoing COVID-19 protocols. The partnership focuses on ensuring a secure space for residents through effective real-time monitoring.

Kontrol Technologies Corp. (CSE:KNR, OTCQB:KNRLF) is set to showcase real-time demonstrations of its BioCloud units across various customer applications, pending approvals. The company's CEO, Paul Ghezzi, emphasized the importance of sharing operational data when permissible. Additionally, Kontrol has reduced the number of circuit boards in BioCloud from 11 to 5, enhancing production efficiency and potentially lowering costs. With 11 distributors and ongoing negotiations for USA and Middle East agreements, Kontrol is adapting its distribution model to optimize market presence.

Kontrol Technologies Corp. (CSE:KNR, OTCQB:KNRLF) has established a scientific advisory board to accelerate the development of its BioCloud technology for real-time viral detection. CEO Paul Ghezzi emphasizes the necessity of advanced detection technology alongside vaccines for economic recovery. The advisory board comprises prominent experts, including Dr. Caroline Duchaine and Dr. David Heinrichs, who will guide the innovation of BioCloud applications. This initiative positions Kontrol as a leader in the emerging field of viral detection technology.

Kontrol Technologies Corp. has received approval from the Canadian Securities Exchange to change its name to Kontrol Technologies Corp., effective February 12, 2021. The company's share ticker symbols will remain unchanged: CSE: KNR, OTCQB: KNRLF, and FSE: 1K8. No action is required from shareholders due to this name change, and existing share certificates will remain valid. The company specializes in smart buildings through IoT, Cloud, and SaaS technologies aimed at improving energy management and air quality.

Kontrol Technologies Corp. (CSE:KNR / OTCQB:KNRLF) has engaged Digital Offering, LLC as its financial advisor to explore U.S. Capital Markets and aim for a potential NASDAQ listing. CEO Paul Ghezzi emphasized the importance of increasing visibility in the U.S. market. Digital Offering will receive an initial fee of US $25,000 and a success fee of US $175,000 upon a successful listing, along with 400,000 consultant warrants. Kontrol is focused on enhancing its institutional shareholder base and long-term value.