TORONTO, Dec. 2, 2016 /CNW/ - Kontrol Energy Corp. (CSE:KNR) (the "Company") announces that further to the press release dated December 1, 2016 the Company has completed the acquisition of Log-One Ltd.'s Energy Management System, an intelligent, occupancy-based heating and air-conditioning control product, including the hardware, software, intellectual property and patents (combined to be referred to as the "EMS Technology").
The common shares of the Company issued as part of the purchase price for the EMS Technology will be escrowed over a 3-year period and released in quarterly tranches of 1/12th beginning March 31, 2017.
The Log-One EMS Technology will be rebranded as the Kontrol EMS Technology.
About Kontrol Energy Corp.
Kontrol Energy Corp. (CSE:KNR) is a leader in energy efficiency solutions and technology. Through 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 Green House Gas (GHG) emissions.
Through our Energy Savings Simplified Program® 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. To learn more about Kontrol Energy Corp., please visit the Company's website at www.kontrolenergy.com.
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 information relating to future payments of holdback amounts, royalty payments, minimization of common equity dilution, possible future acquisitions, expansion into markets in the United States, anticipated revenue increases and anticipated gross margins; accretive revenue, demand from existing customers, the provision of solutions to customers and greenhouse 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". The forward-looking statements in this press release are presented for the purpose of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. The forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives, or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We have assumed no material unannounced acquisitions or divestitures. 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 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.
Image with caption: "Kontrol Energy Corp. Completes Acquisition of Log-One Energy Management System (CNW Group/Kontrol Energy Corp.)". Image available at: http://photos.newswire.ca/images/download/20161202_C3996_PHOTO_EN_830616.jpg
For further information: Paul Ghezzi, CEO, [email protected]; Kontrol Energy Corp., 5045 Orbitor Drive, Bldg. 9, Suite 401, Mississauga, ON L4W 4Y4, Tel: 905.766.0400, Toll free: 1.844.866.8123