Kontrol Technologies Receives Final $800K from Ontario Together Fund for its BioCloud Technology

TORONTO, July 14, 2021 /CNW/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol" or the "Company"), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, is pleased to announce that through its wholly owned operating subsidiary CEM Specialties Inc. ("CEMSI"), it has received the final $800K in funding from the Ontario Together Fund for its BioCloud technology.

Ontario Together Fund
Following the initial receipt of $1.2 Million from the Ontario Together Fund in February of 2021, Kontrol, through its operating subsidiary CEM Specialties Inc., has completed the required conditions precedent and has received the final balance of $800K. The total received from the Ontario Together Fund is $2 Million.

"We are pleased to finalize the funding requirements for the Ontario Together Fund and continue to add to our BioCloud technology innovation," says Paul Ghezzi, CEO of Kontrol Technologies Corp. "As governments move to re-open the economy, many businesses are gearing up to have their employees and customers return to office, retail, and entertainment environments.  Real-time air quality monitoring and early viral and pathogen detection plays an important role in ensuring employee and customer peace of mind to help encourage a full return to normal everyday life."

Additional Innovation for Air Quality and Safer Spaces
Based on the current BioCloud technology which provides for early detection of Covid-19 and other viral pathogens, Kontrol has integrated new sensor capabilities to measure overall air and environmental quality.  These include sensors for volatile organic compounds, particulate matter, humidity, C02, air velocity, differential pressure and more.  Customers who want to ensure that all aspects of air quality in their environments are safe, can now rely on Kontrol BioCloud for turn-key access to a complete suite of real-time monitoring, detection, measurement, data and analytics.  

About Kontrol BioCloud™
Kontrol BioCloud ("BioCloud") is a real-time ambient air analyzer designed as an early detection system for airborne viruses and pathogens.  Kontrol BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus). Safe Space Technology is a registered trademark of Kontrol Technologies Corp.  Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com

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 a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

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  

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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 thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. 

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 capital 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. Kontrol BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).

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 hereof 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, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

SOURCE Kontrol Technologies Corp.

Kontrol Technologies Corp., [email protected], 180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8, Tel: [phone], Toll free: 1 [phone]; Investor Relations: Brooks Hamilton, MZ Group - MZ North America, [email protected], Tel: [phone]

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