Kontrol Energy Corp. Announces Private Placement
TORONTO, Aug. 29, 2017 /CNW/ – Kontrol Energy Corp. (CSE:KNR) (the “Company”) announces that it plans to undertake a non-brokered private placement of up to one million (1,000,000) units (the “Units”) to raise gross proceeds of up to $600,000 (the “Offering”). The Units will be offered at a price of $0.60, with each Unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one common share of the Company at a price of $0.80 for a period of one (1) year, subject to accelerated expiry should the common shares trade on the Canadian Securities Exchange (the “CSE”) at $1.00 or higher for ten (10) consecutive trading days.
Proceeds from the Offering will be used for acquisition deposits and general working capital. All securities purchased under this Offering will be subject to a four month and one day hold period. Finders’ fees may be payable on a portion of the Offering in accordance with the policies of the CSE. Completion of the Offering is subject to the acceptance of the CSE.
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 Greenhouse Gas (GHG) emissions.
Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.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.