TORONTO,ON / ACCESSWIRE / June 27, 2019 / Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) ("Kontrol" or the "Company") is pleased to announce that it is adding a new continuous emission and odour monitoring solutions for the cannabis industry. A continuous emission monitoring system (CEMS), is the most accurate equipment necessary for the determination of a gas or particulate matter concentration or emission rate using pollutant analyzer measurements and a software program to produce results in units of the applicable emission limit or standard.
Paul Ghezzi, CEO of Kontrol stated, "A science-based approach to emissions and odours is required in the cannabis industry. As an example, numerous terpenes have been identified in various strains of the cannabis plant, and each strain has a unique emission profile and composition. Terpenes can be a significant source of odour creation. Access to the exact cause of odour from a facility provides the opportunity to develop an abatement program that is targeted. Targeted abatement programs can also help reduce operating costs.
Using a scientific approach, Kontrol's turn-key solutions provide initial testing to assess the cause of odour in the grow facility, create an abatement program designed around the testing and configuration of the facility and finally continuously monitor and measure in real-time. Currently, the cannabis industry is not regulated to require continuous emission monitoring but there are advantages for those LPs who take a leading position in the market.
Paul Ghezzi continued, "Our unique approach to gathering data and targeting specific odour causing compounds which can then be continuously monitored creates a significant benefit for an LP and the surrounding community. We look forward to sharing our solutions across the North American cannabis industry."
Kontrol, through its operating subsidiaries CEMSI and ORTECH, has over 40 years of successful operating history in the areas of odours and emissions. Kontrol's customers include some of North America's largest companies in the sectors of oil, gas, cement and mining. Most recently Kontrol has entered the cannabis market as a supplier of energy, odour and emission solutions.
Since entering the cannabis market, Kontrol has secured multiple contracts with some of Canada's largest cultivators. Kontrol will continue to expand on its cannabis vertical as the company is set to close its previously announced acquisition of an electrical retrofit company based in Ontario. The acquisition of the electrical retrofit company will be the company's fourth subsidiary with operations in the cannabis industry. The acquisition is expected to close shortly after the completion of the company's current financing. Kontrol is currently raising CAD $4,000,000 through a convertible debenture which provides an 8 percent annual coupon and may be converted into common shares of the company at a price of $1.05 per share. Kontrol anticipates closing its financing in July 2019 and looks forward to its next acquisition which will add approximately $7 million in annual revenues and $650K in EBITDA.
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.
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
For further information, contact:
Paul Ghezzi, Chief Executive Officer
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 Information
Certain information included in this press release, including information relating to entering the cannabis market, the securing of multiple contracts with some of Canada's largest cultivators, the integration of the acquisition into Kontrol's existing businesses and technology across Kontrol's operating platform; the ability to close on mentioned financing, strategic synergies to distribute smart building technologies and the opportunity to vertically integrate across a broader operating platform, Kontrol's anticipated growth in scale and revenue, including anticipated proforma 2019 revenue and EBITDA run rate, the provision of solutions to customers to reduce overall energy costs and greenhouse gas emissions reductions, carbon reduction and continuous emissions monitoring systems, other statements that express the expectations of management or estimates of future performance, "forward-looking statements". The forward-looking statements in this press release are presented for the purposes of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. 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, the Company and that its revenues and growth projections will be consistent and meet with the Company's expectations, that the revenue and EBITDA run rate the Company's subsidiaries will be consistent with and meet the Company's expectations, that performance milestones will be achieved, 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,. 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, that the revenue and EBITDA run rate of the company's subsidiaries will be less than expected, performance milestones will not be achieved, there being a 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 the software as a service 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. 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.