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A 2nd tranche completed for KNR

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Sam Dan Member Level  Friday, 11/09/18 07:29:42 PM
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A 2nd tranche completed for KNR

"Kontrol Energy Corp. (CSE:KNR, FSE:1K8), ("Kontrol" or the "Company") announces today that it has closed a second tranche of a non-brokered private placement(s) (the "Offering") raising gross proceeds of $390,110. On November 5th, 2018 Kontrol announced that it had issued 337,000 units (each a "Unit" or "Units") at a price of $0.70 per Unit, each Unit consisting of one common share and one warrant exercisable to acquire one common share of the Company at a price of $1.00 for a period of three (3) years, in certain circumstances. In response to investor interest, today Kontrol issued an additional 220,000 Units raising gross proceeds of $154,000 on the same terms as the first tranche.

The use of the proceeds is to finance deposits on potential acquisitions of operating businesses and technologies in the energy efficiency sector as part of the Issuer's overall growth strategy and general working capital.

All of the securities issued in connection with the closing are subject to a hold period expiring on March 6, 2019.

About Kontrol Energy

Kontrol Energy Corp. (CSE: KNR, FSE: 1K8) is a leader in the energy efficiency sector through IOT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Greenhouse Gas (GHG) emissions."


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