TORONTO, August 19, 2024--(BUSINESS WIRE)--Kontrol Technologies Corp. (Cboe CA:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol" or the "Company") a leader in smart buildings and cities has been selected by multiple Customers ("Customers") to deliver sustainability and net zero emission solutions for multiple public sector buildings.

"We continue to win opportunities and expand our solutions into the public sector, which has been leading the way to greater sustainability and building decarbonization," says Paul Ghezzi, CEO of Kontrol Technologies.

Corporate Strategy

The Company is focused on growing its revenues both organically and by strategic acquisition. As part of the ongoing focus to deliver greater synergies in its operations the Company will internally re-organize its building performance technology and building engineering under one brand, Efficiency Engineering. The Company will seek to eliminate any duplication in operating costs and continue to streamline operations. The Kontrol Buildings platform will continue to focus on high margin building service revenues and recurring revenues under multi-year contracts.

"With a strong balance sheet, we can turn our focus to the growth and expansion of our core business," continues Ghezzi. "The shift towards energy efficiency, lower operating costs and greater sustainability for large buildings is accelerating, driven by operational needs and stakeholder requirements."

Potential strategic acquisitions will be announced when they are final. Acquisition targets with ongoing recurring revenues will be given priority.

According to the Canadian Government, "To reach Canada’s climate goals, reduce energy bills and build up Canada’s supply of energy-efficient and resilient building stock, there is a need to accelerate the retrofit of approximately 10 million buildings and construct millions of new net-zero buildings in the coming decades." www.canada.ca/naturalresources

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities and provides solutions and services to its customers to improve energy management 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 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. Forward-looking information contained in this press releases includes, but is not limited to, the following: the future operations of the Company; and the Company’s ability to complete future acquisitions.

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 the Company will have sufficient financial and other resources to fulfil expectations with respect to future operations and potential acquisitions.

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.

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Contacts

Kontrol Technologies Corp.
Paul Ghezzi
CEO
[email protected]
11 CiderMill Road
Vaughan, ON L4K 4B6
Tel: (905) 766.0400