Kontrol Energy Corp. (Formerly Arrowhead Gold Corp.) Commences Trading on CSE

MISSISSAUGA, ON, Aug. 9, 2016 /CNW/ - Kontrol Energy Corp. (CSE:KNR) (formerly Arrowhead Gold Corp.) ("Kontrol" or the "Company") is pleased to announce the completion of its reverse take-over transaction (the "RTO), pursuant to which it acquired all of the issued and outstanding shares of Nuvo Energy Grid Inc. ("Nuvo"). The Company's securities have been approved for listing and trade on the Canadian Securities Exchange ("CSE") under the symbol "KNR".

In connection with the RTO:

  • On July 7, 2016 the Company consolidated its issued and outstanding common shares on the basis of one post-consolidated common share for every six pre-consolidated common shares held, and changed its name from "Arrowhead Gold Corp" to "Kontrol Energy Corp.";

  • On July 8, 2016 the Company acquired all of the outstanding shares of Nuvo in exchange for 13,250,000 post-consolidated shares of the Company. As a result, Nuvo became a wholly owned subsidiary of the Company;

  • prior to completing the RTO the Company disposed of all of its mineral property assets and interests.  The Company now carries on business in the energy efficiency sector through its wholly owned subsidiaries Nuvo Energy Grid Inc. and Kontrol Technologies Inc.; and

  • the former directors and officers (with the exception of Steve Smith) of the Company resigned and new directors and management of the Issuer were appointed;

Issued and Outstanding Shares and Consolidated Capitalization

The Company currently has 16,740,082 outstanding common shares and 211,333 share purchase warrants.  The only changes in the Company's share capital since the most recently completed financial year pertain to (i) the consolidation of the Company's outstanding common shares, immediately prior to closing of the Acquisition, on a six for one basis; (ii) the Acquisition of Nuvo for 13,250,000 Shares, and (iii) the cancellation of all outstanding incentive stock options.

New Board and Management

The Company's former board of directors and officers, Zachery Dingsdale and Derrick Strickland, have resigned, and Steve Smith resigned as CEO.  The Company now has the following directors and officers:

Paul Ghezzi – CEO and Director
Claudio Del Vasto – CFO and Director
Kristian Lavereau – COO
Andrew Bowerbank – Director
Steve Smith – Director

About Kontrol Energy Corp.

Mission Statement - We make the move to lower energy costs and increased sustainability simple and highly profitable. 

Kontrol is in the business of acquiring and/or investing in established operating businesses and technologies in the Energy Efficiency sector. Through these acquisitions, and accelerated organic growth, Kontrol intends to provide market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Green House Gas (GHG) emissions.

The Kontrol management team have extensive experience in providing Energy Retrofits, Distributed Generation Infrastructure and Energy Analytics Technology. Kontrol's solutions aim to deliver immediate financial savings and sustainable energy benefits, with the ability to monitor and modify energy consumption and demand in real-time.

"Our strategic plan is built on the foundation of our entrepreneurial spirit, our growing technology platform and the strength of our team.  Following our CSE listing we are excited to deliver a future of robust energy and sustainability solutions for our customers, strong financial performance for our stakeholders and advancing our corporate social responsibility initiatives for the benefit of all."           

Paul Ghezzi, CEO

Strategic Plan Summary

Acquisitions

We intend to grow our market presence and leadership position through a disciplined and structured M&A strategy.

Organic Growth

We will endeavor to accelerate organic growth with our existing customers through transparent and effective delivery of energy solutions.

Connectivity

We are committed to enhancing and improving our customers' profitability and sustainability through connected energy devices and the Internet of Things (IOT).

Trusted Strategic Partner

We intend to work to drive strategic initiatives and partnerships to create revenue synergies across industry sectors and to help us grow our market share in each sector.

About Kontrol Energy Corp.

Kontrol is in the business of acquiring and/or investing in established operating businesses and technologies in the Energy Efficiency sector. Through these acquisitions, and accelerated organic growth, Kontrol intends to provide market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in Green House Gas (GHG) emissions.

Through our Energy Savings Simplified Program® our customers can gain immediate financial savings and the ability to monitor and modify energy consumption and demand in real-time through cloud based IOT solutions.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding possible future acquisitions and/or investments in operating businesses and/or technologies, accelerated organic growth, the provision of solutions to customers and Green House Gas emissions reductions, proposed financial savings and sustainable energy benefits and energy monitoring. 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 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 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.

For further information: Kontrol Energy Corp., 5045 Orbitor Drive, Bldg. 9, Suite 401, Mississauga, ON, L4W 4Y4, Tel: 905.766.0400, Toll free: 1.844.866.8123, info@kontrolenergy.com


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