Kontrol Energy continues to discuss opportunities to collaborate on Blockchain technologies with software firm and announces equity financing not proceeding

TORONTO, March 23, 2018 /CNW/ - Kontrol Energy Corp. ("Kontrol", or the "Company") (CSE: KNR, FSE: 1K8) announced today that, due to unfavorable market conditions, Kontrol will not be completing its proposed acquisition of the Blockchain software development firm referred to in Kontrol's news release of February 2, 2018 and its previously announced financing will not be proceeding. However, Kontrol continues to discuss opportunities to collaborate on Blockchain technologies with the Blockchain software development firm.

For more details about the financing and the proposed acquisition, please refer to Kontrol's news releases of February 2, 2018 and March 8, 2018.

About Kontrol Energy 

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.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information concerning Kontrol's collaboration with the Blockchain software development firm, 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 purposes 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. 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. 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.

SOURCE Kontrol Energy Corp.

Paul Ghezzi, CEO, [email protected]; Kontrol Energy Corp., 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8 Tel: [phone], Toll free: 1.844.866.8123