An anonymous director reports
KONTROL ENERGY CORP. COMPLETES SECOND TRANCHE CLOSING OF EQUITY PRIVATE PLACEMENT
Kontrol Energy Corp. has closed a second tranche of a non-brokered private placement, raising gross proceeds of $390,110. On Nov. 5, 2018, Kontrol announced that it had issued 337,000 units at a price of 70 cents per unit, each unit consisting of one common share and one warrant exercisable to acquire one common share of the company at a price of $1 for a period of three years, in certain circumstances. In response to investor interest, today, Kontrol issued an additional 220,000 units raising gross proceeds of $154,000 on the same terms as the first tranche.
The use of the proceeds is to finance deposits on potential acquisitions of operating businesses and technologies in the energy efficiency sector as part of the issuer's overall growth strategy and general working capital.
All of the securities issued in connection with the closing are subject to a hold period expiring on March 6, 2019.
About Kontrol Energy Corp.
Kontrol Energy is a leader in the energy efficiency sector through Internet of things, cloud and software-as-a-service technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy provides market-based energy solutions to its customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
We seek Safe Harbor.
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