As I predicted KNR moves for listing on OTC in USA
, ("Kontrol" or the "Company") announces it has engaged a consultant to apply for eligibility to The Depository Trust Company ("DTC") for the trading of the Company's shares on the OTC Market in the United States. The Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation DTCC, manages the electronic clearing and settlement of publicly traded companies. Securities eligible to be electronically cleared and settled through the DTC are considered "DTC eligible". This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors trading on the OTC marketplace. The Company expects it will be fully DTC eligible in second quarter 2019.
"Kontrol's ongoing operating business expansion into the U.S. through both existing customers and new potential acquisitions is the primary reason that we seek to share our growth story with U.S. institutional and retail investors," commented Paul Ghezzi, CEO of Kontrol. "When shares can trade electronically, existing investors benefit from greater liquidity and execution speeds, while opening the door to new investors that may have been previously restricted from transacting in Company's shares."
About Kontrol Energy
Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF, 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."
