An addition to the board announced which looks to be a very good appointment.
But the news of a 'shares for debt' revelation is disappointing! I would have thought that the company's present revenue production would be able to handle such an expense without incurring the share dilution.
"("Kontrol" or "Company") a leader in the energy efficiency sector through IoT, Cloud and SaaS technology is pleased to announce that Joanna Osawe has been appointed to its Board of Directors.
Joanna Osawe is the Chair, President & CEO of Women in Renewable Energy (WiRE), a group which encourages and supports women to enter the renewable energy industry. WiRE is inclusive and educates on all renewable and emerging energy technologies with chapters in St. John's, Halifax, Montreal, Ottawa, Toronto, Mississauga, Windsor, Calgary, Edmonton, Saskatchewan and Vancouver and Kamloops. WiRE has expanded with its 1st International Launch in Istanbul, Turkey with the Canadian Embassy and as of 2019 WiRE has expanded to Tbilisi Georgia, Baku Azerbaijan and Amman Jordan. WiRE is expanding in the MENA regions currently. WiRE regularly organizes educational field trips, monthly networking meetings, an awards recognition program, student mentoring and bursaries, communications and engagement initiatives. Joanna also works at DMC Power as the Global Business Development Manager, Major Projects.
Joanna studied languages at Western University, graduating with an Honours BA. Joanna has used her language skills on a focused, 15+ year management career at leading renewable and energy sector companies in Canada and the United States. By carrying complex projects through many stages, she has seen firsthand the vital role renewable energy and emerging technologies serve in moving the Canadian, American and Global energy mix forward.
"We are very pleased that Joanna has joined the Kontrol Board of Directors. Joanna has extensive experience in the alternative energy markets and a global reach through her fantastic work through Women in Renewable Energy (WiRE)," stated Paul Ghezzi, CEO of Kontrol Energy.
Shares for Debt
The Company also announces that it has issued 173,586 common shares at a deemed price per share of $0.58 in settlement of $100,680 in outstanding debts (the "Transaction")."
