Kontrol Technologies Announces Amendments to Certain Existing Warrants
05/01/2023 - 05:10 PM
TORONTO --(BUSINESS WIRE)--
Kontrol Technologies Corp. (NEO:KNR ) (OTCQB:KNRLF ) (FSE:1K8 ) ("Kontrol " or the "Company "), a leader in smart building technologies, is pleased to announce that it has now received all necessary approvals, including the acceptance of the NEO Exchange and the approval of shareholders of the Company, with respect to certain amendments to 1,211,500 warrants of the Company that were issued in June 2021 (the “Warrants ”).
As disclosed in the press release of the Company dated February 16, 2023 and the Notice of Meeting and Information Circular of the Company dated March 16, 2023, the Company had agreed to amend the Warrants to (i) reduce in the exercise price from $1.75 $0.81 93.08% or 11,474,884 shares represented by shareholders voted in favour of the amendments to the Warrants. In addition to shareholder approval, the Company has also received the acceptance of the NEO Exchange for the amendments and, having received all necessary approvals, the amendments have now taken effect.
Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
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, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those 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 are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol 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 or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
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Kontrol Technologies Corp.
info@kontrolcorp.com
Vaughan, ON L4K 4B6
Source: Kontrol Technologies Corp.
