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Now we know why management announced a PP yesterday

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Sam Dan Member Level  Thursday, 03/14/19 10:48:22 AM
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Now we know why management announced a PP yesterday
to fund this new acquisition. Well done !!

("Kontrol" or "Company") announces that it has entered into a Letter of Intent (the "LOI") to acquire an established and leading provider of electrical retrofit services (the "Target").

The Target has been providing the Canadian market with high quality, value added electrical efficiency services and retrofit applications for more than 15 years. The Target has averaged revenues (unaudited) of over $6.5 Million and normalized EBITDA of approximately $700,000 over the past 3 years.

The purchase price is $3.0 Million CAD, subject to working capital adjustments with a holdback of $300,000 for 12 months. Additional performance payments may be made based on the Target achieving certain EBITDA targets.

Paul Ghezzi, CEO of Kontrol Energy stated: "There are many strategic synergies between Kontrol and the Target including a complimentary customer base, product offering and distribution network for our existing smart building technologies." Mr Ghezzi continued: "The Target currently provides services and solutions to many of Kontrol's existing customers and we see an immediate expansion potential across a growing combined customer base as we vertically integrate across our broader operating platform."

The acquisition is subject to due diligence, applicable approvals and a definitive agreement. The acquisition is anticipated to be completed in approximately 90 days. The acquisition is anticipated to be funded from a combination of available cash, debt, and equity sources.

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.


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