Kontrol Energy Secures New Contract with Canadian Cannabis Producer
TORONTO, May 30, 2019 - Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) (“Kontrol” or "Company") has secured a new contract with a Cannabis producer in the province of Ontario. Under this agreement, Kontrol Energy will provide energy, emission and odor compliance services for the Canadian cannabis licensed cultivator.
For industry competitive purposes the customer will not be disclosed. The customer is in the process of retrofitting its facility to expand its cannabis cultivation operations.
“Energy costs can account for up to 50% of the input costs for a licensed producer. Through our ability to design and implement energy savings technologies and solutions we continue to grow our footprint in the Cannabis sector”, said Paul Ghezzi, CEO of Kontrol Energy. “In addition, the requirement to comply with changing local emission and odor regulations is an area where Kontrol and its subsidiaries have a great deal of history in helping our customers be at the leading edge of compliance.”
Through its real-time energy management software and vertically integrated technology and services, Kontrol provides cannabis cultivators with the opportunity to reduce their energy costs to be a viable low-cost operator. As the industry continues to face cost pressures, those cultivators who are at the leading edge of reducing their energy costs will gain a competitive advantage.
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.
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Kontrol Energy Corp.
180 Jardin Drive, Unit 9
Vaughan, ON L4K 1X8
Toll free: 1.844.566.8123
For further information, contact:
Paul Ghezzi, Chief Executive Officer
Kontrol Energy Corp.,
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Caution Regarding Forward-Looking Information
Certain information included in this press release, including information relating to energy analytics, growth and expansion of the cannabis sector, the provision of solutions to customers to analyze the management of complex Emission and Odour testing and compliance, growth strategy, targeted expansion 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. 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 acquisition will be successfully integrated into the Company and that its revenues will be consistent with the Company’s expectations, 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.