Kontrol Technologies Files Preliminary Base Shelf Prospectus

TORONTO, May 14, 2021 /PRNewswire/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8)  ("Kontrol Technologies" or "Kontrol") a leader in smart buildings and cities through IoT, Cloud and SaaS technology, is pleased to announce that today it has filed a preliminary base shelf prospectus (the "shelf prospectus") with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario. This filing, when made final, will enable Kontrol to offer, issue and sell up to $15 million of common shares, warrants, subscription receipts, debt securities and units or a combination thereof from time to time, separately or together, in amounts, at prices and on terms to be determined based on the market conditions at the time of the offering, and as set out in an accompanying prospectus supplement, during the 25 month period that the shelf prospectus, when made final, remains valid.

The net proceeds from any offerings under the shelf prospectus will be used as specified in the corresponding prospectus supplement.

A copy of the shelf prospectus can be found under Kontrol's profile on SEDAR at www.sedar.com.

About Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol Technologies 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.

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 including, without limitation, the filing of the final base shelf prospectus and any prospectus supplement filed in connection therewith, the potential issuance of securities of Kontrol, and the use of proceeds from such offerings. 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. 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, risks relating to the timing and filing of the final base shelf prospectus, the potential offering of any securities by Kontrol, uncertainty with respect to the completion of any future offering, the ability to obtain applicable regulatory approval for any contemplated offerings, the ability of Kontrol to negotiate and complete future funding transactions and other risks detailed from time to time in the public filings made by Kontrol, including but not limited to those detailed in Kontrol's annual information form for the year ended December 31, 2020, copies of which are filed on SEDAR at www.sedar.com.

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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SOURCE Kontrol Technologies Corp.