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Kontrol Technologies announces new intended Normal Course Issuer Bid through the NEO Exchange

Kontrol Technologies Announces the Closing of its $8 5 million Private Placement

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 it has closed its private placement announced on May 27, 2021 for total gross proceeds of approximately Cdn $8.5 million (the Private Placement ).  Pursuant to the Private Placement, the Company issued 5,666,332 units for Cdn $1.50 each, with each unit comprising of one common share (each a Share and, collectively, the Warrant and, collectively, the Warrants ).  Each full Warrant entitles the holder thereof to purchase one Common Share at an exercise price of Cdn $1.75 per Share at any time prior June 1, 2024.

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