Mr. Paul Ghezzi reports

KONTROL TECHNOLOGIES ANNOUNCES AMENDMENTS TO CERTAIN EXISTING WARRANTS

Kontrol Technologies Corp. has 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.

As disclosed in the press release of the company dated Feb. 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 the exercise price from $1.75 to 81 cents; and (ii) extend the expiry date from June 1, 2024, to Feb. 22, 2028. At the special meeting of the shareholders of the company held on April 12, 2023, 93.08 per cent 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 taken effect.

About Kontrol Technologies Corp.

Kontrol, a Canadian public company, is a leader in smart buildings and cities through Internet of Things, cloud and Software-as-a-Service technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

We seek Safe Harbor.