Kontrol Energy Announces Application for DTC Eligibility for Trading of Its Shares on the OTCQB Market
Tuesday, March 12, 2019 8:30 AM
TORONTO, ON / ACCESSWIRE / March 12, 2019 / Kontrol Energy Corp. (CSE:KNR, OTCQB:KNRLF, FSE:1K8), ("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.
Kontrol Energy was recently announced as the 7th fastest growing Startup in Canada by Canadian Business and Maclean's.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com
For further information, contact us at [email protected] Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including an OTCQB listing in USA; application for DTC on the OTCQB market; the strategic plan of introducing the Company to a broader range of institutional and retail investors in the U.S.; completed and future acquisitions that will generate considerable revenues for the Company, anticipated annualized revenues, the acceleration of revenue synergies across operating subsidiaries, IoT expansion, information relating to future closings of the Offering, payments of interest, commissions or finders fees, minimization of common equity dilution, possible future acquisitions and/or investments in operating businesses and/or technologies, accelerated growth, the provision of solutions to customers and Green House Gas emissions reductions, proposed financial savings and sustainable energy benefits and energy monitoring, growth strategy and financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the Offering will be successful, that suitable businesses and technologies for acquisition and/or investment will be available, that such acquisitions and or investment transactions will be concluded, that sufficient capital will be available to the Company, that technology will be as effective as anticipated, that organic growth will occur, and others. 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, lack of further subscriptions for the Offering, lack of acquisition and investment opportunities or that such opportunities may not be concluded on reasonable terms, or at all, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected that customers and potential customers will not be as accepting of the Company's product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. 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 the Company 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, except as required under applicable securities law.
SOURCE: Kontrol Energy Corp.