News Summary

• Kontrol Technologies Corp. (CBOE.CA: KNR) (OTCQB: KNRLF) (FSE: 1K8) is expanding its solutions in the Multi-Residential Building sector.
• As part of its ongoing mergers and acquisition strategy, Kontrol has entered into a non-binding Letter of Intent to acquire an Ontario-based HVAC service business.
• The target company generates approximately $3 million in annual revenue with normalized EBITDA margin of approximately 12%.
• The acquisition price is $1.2 million which includes approximately $400K in working capital.