KONTROL TECHNOLOGIES CORP - KNRLF STOCK NEWS

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has secured a new customer in the liquified natural gas (LNG) sector in the USA for emission monitoring and analytics. This move follows their previous announcement on February 15, 2023, and indicates a strategic expansion into the LNG market as part of their emission monitoring solutions. CEO Paul Ghezzi stated that their reputation in emission monitoring has facilitated this market entry. The company has a history of providing emission monitoring solutions in the oil, gas, and cement industries across Canada and the USA, with the LNG market presenting significant new revenue potential.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has closed a private placement raising $5 million through 7,695,840 Units, each consisting of a common share and a warrant. The funds are designated for sales, marketing, R&D, debt retirement, and working capital. Each warrant, exercisable over five years, has an exercise price of $0.81. Additionally, the company is re-pricing existing warrants, reducing their exercise price from $1.75 to $0.81. The issuance of 119,047 Common Shares for debt settlement is also planned. The private placement meets exemptions under U.S. and NEO Exchange regulations.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) announces a six-month Forbearance Agreement with its secured lender due to prior covenant breaches. The company is required to remain current on principal and interest obligations, with a mandated principal repayment of $2.75 million in the next four months. Additionally, Kontrol plans to wind up its subsidiary, Global HVAC and Automation, as part of a corporate restructuring aimed at achieving positive cash flow and EBITDA in 2023. CEO Paul Ghezzi expressed confidence in focusing on higher gross margin services to enhance financial performance.

Kontrol Technologies Corp. (OTCQB: KNRLF) has announced a proposed private placement aiming to raise up to $5 million. Each unit will consist of one common share or equivalent and one warrant for a purchase price of $0.65. The warrants will allow the purchase of common shares at an exercise price of $0.81 over five years. Net proceeds are earmarked for marketing, research, debt retirement, and working capital. The placement is subject to regulatory approvals, and the company also plans to re-price existing warrants from $1.75 to $0.81.

Kontrol Technologies Corp. (OTCQB: KNRLF), a leader in smart buildings, has entered the liquefied natural gas (LNG) market, focusing on emission monitoring solutions primarily for the USA. This new market presents a significant revenue opportunity, leveraging the Company’s established expertise in continuous emissions monitoring for the oil, gas, and cement industries. Kontrol's solutions include real-time monitoring and enhanced testing to ensure regulatory compliance for LNG facilities. The initiative aligns with efforts towards achieving carbon neutrality in LNG operations through transparent emissions data.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) is engaging in exclusive negotiations with a European emission technology manufacturer to establish a joint venture in North America. This collaboration aims to distribute continuous emission monitoring technology for ethylene oxide across the USA, Canada, and Mexico. Following recent orders from a new U.S. customer, Kontrol is positioned to capitalize on the growing emission monitoring market, projected to expand from USD 3.86 Billion in 2020 to USD 8.58 Billion by 2028. Finalization of the joint venture documentation is anticipated by Q1 or early Q2 2023.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has successfully completed Phase 1 testing of its Kontrol BioWater technology, detecting the Sars-Cov-2 virus in wastewater samples. This project, supported by the National Research Council of Canada, aims to improve biomonitoring technologies for viral outbreaks. The BioWater technology is designed to provide real-time virus detection, potentially reducing response times significantly. The company has also secured $300,000 in R&D funding for this project, although future funding is not guaranteed. Kontrol aims to advance its technology further with ongoing prototype development.

Kontrol Technologies Corp. (NEO:KNR, OTCQB:KNRLF) has received a Notice of Allowance for its U.S. Patent Application No. 17/105,804, related to an innovative Air Sampling System. This system features advanced components including an air intake unit, fan, cooling unit, and optical detection unit designed for effective air quality monitoring.

The Company aims to enhance its smart building platform through further patent developments. A patent issuance is anticipated in Q1 2023. Kontrol Technologies leads in smart building technologies, focusing on energy management and emissions monitoring.

Kontrol Technologies Corp. (OTCQB: KNRLF) has expanded into the real-time monitoring market for Ethylene oxide emissions. Its subsidiary, CEM Specialties Inc. (CEMSI), has secured a contract with a new USA customer to design and integrate advanced emission technology for this purpose. This development marks a significant growth opportunity, as it addresses the increasing regulatory focus on hazardous air pollutants like Ethylene oxide. Monitoring solutions are crucial for reducing exposure to this flammable gas, which is widely used in various industries.