Kontrol Technologies to Report Q1 2023 Financial Results

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TORONTO— Kontrol Technologies Corp. ( NEO:KNR) ( OTCQB:KNRLF) ( FSE:1K8) (“Kontrol Technologies” or “Kontrol” or “Company“) a leader in smart buildings and cities through IoT, Cloud and SaaS technology will report its Q1 2023 financial results, for the period ended March 31^st2023, on May 15^{the th}2023 (the “filing date”). A complete set of the Financial Statements and Management’s Discussion & Analysis will be filed on SEDAR ( www.sedar.com) on the filing date at 5:00 PM (Eastern).

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“This quarter demonstrates the continued progress on our turnaround and the execution and strategic initiative to increase gross margins, add new customers, which we can scale with, and drive to positive EBITDA (Earnings Before Interest, Taxes, Depreciation & Amortization),” sa ys Paul Ghezzi, CEO of Kontrol Technologies. “The Company reported a one-time gain on disposal of continued operations of $21.9 Million. The improvement in the Balance Sheet is also an important accomplishment.”

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A webcast call to discuss the financial results has been scheduled for Monday, May 15^{the th}2023, at 4:30 PM (Eastern). The event will be hosted by Paul Ghezzi, CEO and Claudio Del Vasto, CFO, of Kontrol Technologies Corp. There will also be a Q and A session with management.

Event Details:

Conference Replay:

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and ac celerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate” , “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations therefore, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

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Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient cap tal will be available to The Company and that technology will be as effective as anticipated.

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 , that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those 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 here of and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol 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 or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertain ties, and potential events carefully and Not to put undue reliance on forward-looking information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230515005797/en/

Contacts

Kontrol Technologies Corp.
Paul Ghezzi, CEO
[email protected]
11 Cidermill Avenue, Suite 201
Vaughan, ON L4K 4B6
Tel: (905) 766.0400

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