TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities is pleased to announce that it has closed the private placement previously announced in the Company’s press release dated February 16, 2023 (the “Private Placement”) of units (the “Units”) for aggregate gross proceeds of approximately $5 million. Each Unit consists of one common share in the capital of the Company (a “Common Share”) or one common share equivalent (a “Common Share Equivalent”) and one common share purchase warrant (a “Warrant”) for a purchase price of $0.65. Each Warrant is exercisable immediately and entitles the holder thereof to purchase one common share at an exercise price of $0.81 for a period of five years from the date of issuance. The Common Share Equivalents are pre-funded with $0.649 per Common Share Equivalent, requiring an additional $0.001 per Common Share Equivalent to have it converted into a Common Share. The Common Share Equivalents will expire upon the exercise of all outstanding Common Share Equivalents. The Private Placement was comprised of 7,695,840 Units, with underlying securities that consist of, in the aggregate, 5,400,000 Common Shares, 2,295,840 Common Share Equivalents and 7,695,840 Warrants.

The Common Share Equivalents prevent any exercise if such exercise would result in the holder acquiring more than 9.99% of the Company’s current issued and outstanding Common Shares. The Warrants prevent any exercise if such exercise would result in the holder acquiring more than 4.99% of the Company’s current issued and outstanding Common Shares.

The net proceeds of the Private Placement are expected to be used for sales, marketing, research and development, debt retirement and working capital requirements. A.G.P./Alliance Global Partners (the “Agent”) acted as the exclusive placement agent for the Private Placement in the United States, and the Company has paid the Agent a cash commission equal to 7% of the aggregate gross proceeds of the Private Placement.

In the United States, the Units were offered on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).

The Company is relying on and satisfies the conditions of the exemption in Section 10.10(2) of the NEO Exchange Listing Manual with respect to the Private Placement because: (a) it is in serious financial difficulty; (b) it has reached an agreement to complete the Private Placement; (c) no Related Person (as defined in the NEO Exchange Listing Manual) of the Company is participating in the Private Placement; and (d) all of the independent directors of the Company have determined that the Private Placement is in the best interests of the Listed Issuer, is reasonable in the circumstances and that it is not feasible to obtain security holder approval or complete a rights offering to existing security holders on the same terms.

The Company has also agreed to the re-pricing of 1,211,500 warrants that were issued in June 2021 with an original exercise price of $1.75. Subsequent to the re-pricing, the warrants will have an exercise price of $0.81 and a term of five years beginning on the date of the closing of the private placement. Re-pricing of the warrants is subject to receipt of all necessary approvals, including the approval of the NEO Exchange and the shareholders of the Company.

The Company also announces that it intends to issue 119,047 Common Shares at a deemed price per Common Share of $0.65 in partial settlement of debt owing to an employee in an amount of $77,400. The issuance is subject to receipt of all necessary approvals, including the acceptance of the NEO Exchange.

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 solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

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

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, any securities of the Company nor shall there be any sale of any of the securities in any jurisdiction in Canada in connection with the Private Placement; nor shall it constitute an offer to sell, or the solicitation of an offer to buy, any securities of the Company nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer of securities for sale in the United States. The securities have not been, nor will be, registered under the U.S. Securities Act and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

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. Forward-looking information contained in this press releases includes, but is not limited to, the following: ability to obtain all necessary regulatory and/or shareholder approvals with respect to the issuance of Common Shares to an employee of the Company and the re-pricing of certain of the Company’s existing warrants; and the anticipated use of proceeds from the Private Placement.

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 the Company will be able to obtain all necessary approvals with respect to the issuance of Common Shares to an employee of the Company and the re-pricing of certain of the Company’s existing warrants; and that the Company will have sufficient financial and other resources to fulfil expectations with respect to future operations.

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.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi, CEO

info@kontrolcorp.com
11 Cidermill Avenue, Suite 201

Vaughan, ON L4K 4B6

Tel: (905) 766.0400

Two new innovation concept machines to be unveiled during news conference on March 14 at 4 p.m. PT in booth W41544 in the West Hall

WEST FARGO, N.D.–(BUSINESS WIRE)–Bobcat Company, a global compact equipment, innovation and worksite solutions brand, is gearing up to showcase its latest and most exciting lineup of products and innovations at CONEXPO-CON/AGG 2023. The Bobcat exhibit is a testament to the ingenuity of the company that built the world’s first skid-steer loader nearly 65 years ago.

Electrification, autonomous operation and digital technologies will be on display as the company shares new ways these advancements are making compact equipment operations easier and more productive than ever before.

EXCELLENCE IN ELECTRIC OPERATIONS

Bobcat will showcase its next-level electric innovations and will unveil two new concept machines with electric functionality.

In-Booth:

Visit Bobcat at booth W41544 in the West Hall to see its expansive, electric product line-up, from the all-electric T7X compact track loader to battery-electric excavators, including the E10e, E19e and E32e. This is the first North American trade show where these products will be exhibited following the T7X’s initial introduction at CES 2022.

The company has continued to innovate in electric and will unveil two new electric concept machines during the show on Tuesday, March 14, at 4 p.m. PT in its booth (W41544 in the West Hall). Show attendees are welcome to attend this unveiling and press conference.

Education Session:

Bobcat Vice President of Global Innovation Joel Honeyman and Director of Innovation Accelerated Matt Sagaser are taking center stage during CONEXPO-CON/AGG 2023’s Education Sessions for their presentation, “Electrifying the Future: Get Plugged In.”

The presentation, to be held on Tuesday, March 14 at 1 p.m. PT in the West Hall 216-218, will examine common myths surrounding electric operation and the benefits – from sustainability attributes to performance enhancements to technological advancements. Tickets to the education session can be purchased through CONEXPO-CON/AGG’s website.

BIGGER, BOLDER INNOVATIONS AND DIGITAL TECHNOLOGIES

With innovations in electrification, autonomous operation and digital technology, Bobcat continues to offer customers more choices, improved performance and advanced technology to work smarter and accomplish more.

At CONEXPO-CON/AGG 2023, Bobcat will exhibit a number of its innovative digital features and technologies—some in concept form and others that are currently commercially available.

Collision Warning and Avoidance System

New in concept form is a collision warning and avoidance system designed to assist operators’ jobsite awareness. Compatible on select Bobcat compact track loaders and skid-steer loaders, the technology tracks an object’s position, direction and speed relative to the machine. Using either the active or passive setting, the operator can receive an audible alert or enable the machine to stop automatically upon detecting an object in its path. While still in product development, the solution is expected to be available to customers in 2024.

Excavator featuring Bobcat Intelligent Control System

Bobcat is showcasing one of its latest technology concepts: Bobcat Intelligent Control System. Featured on an E60 excavator, the new intelligent controls enhance machine control and operation. With greater customization of work modes, operators can increase their performance and efficiency while grading, trenching, slewing and performing other precise operations. The new Drive by Joystick mode allows operators to use the joysticks to travel, similar to Selectable Joystick Controls on a Bobcat loader. Bobcat Intelligent Control System on compact excavators will continue to drive future innovations, like advanced depth check features, remote operation via Bobcat MaxControl and autonomous functionality.

New Solutions for Advanced Display Technology

Bobcat is displaying the future of its advanced display technology with its transparent, touch display. The concept heads-up display, which operators can see through to also view the jobsite, can be positioned on the front windshield or a cab side window on a range of Bobcat machines, including compact excavators, telehandlers and loaders. The display enhances operator productivity and efficiency to the task at hand.

Bobcat MaxControl Remote Operation

With Bobcat MaxControl, operators can control their loader using an app on an iOS smartphone or tablet, thus allowing for operation outside of the cab.

Initially introduced in 2021, new to this innovative offering is a control device that operators can attach to their smartphone for easier remote operations. The remote control has a tactical joystick and button operations like a videogame controller. By moving the operating controls off the phone screen, operators can use the screen for enhanced control views.

Machine IQ Wireless Communications

Bobcat Machine IQ wireless communications is a simple, yet powerful tool that empowers operators of select Bobcat machines to access current and historical machine data from virtually anywhere and at any time. Bobcat machine owners and operators use Machine IQ to monitor the health of their machines and to remotely track information that enhances maintenance, security and performance. Machine IQ empowers owners and operators of select Bobcat machines to get the most out of their compact equipment while protecting their investment at the same time.

This subscription-based service includes advanced fleet management features to monitor and analyze fuel usage, operating hours, maintenance intervals and other critical information of every connected machine in a large fleet. Machine IQ telematics devices are installed on select Bobcat machines before they leave the factory. Bobcat also offers an aftermarket kit that is compatible with most Bobcat machines to make them Machine IQ ready.

Features on Demand

Introduced by Bobcat in 2020, Features on Demand gives customers the flexibility to enable additional features on specific R-Series compact loader models as their needs change. Features on Demand includes automatic ride control, high-flow hydraulics, dual bucket positioning, 2-Speed travel, reversing fan and more. New to Features on Demand is auto throttle, which automatically applies engine rpm to perform tasks more efficiently, while conserving fuel.

Media Resources: Photo assets are available for download at this Dropbox link.

MEDIA NOTE: Bobcat Company is hosting a press conference at 4 p.m. PT on Tuesday, March 14 in its booth W41544 in the West Hall. Company leaders, including Scott Park, Doosan Bobcat CEO and vice chairman; Mike Ballweber, Doosan Bobcat North America president; and Joel Honeyman, Bobcat Company vice president of global innovation, will share company and brand updates before unveiling two new concept machines. We kindly request your RSVP if you will be in attendance. Please respond to na.newsroom@doosan.com by March 7, 2023.

About Bobcat Company

Since 1958, Bobcat Company has been empowering people to accomplish more. As a leading global manufacturer of compact equipment, Bobcat has a proud legacy of innovation and a reputation based on delivering smart solutions to customers’ toughest challenges. Backed by the support of a worldwide network of independent dealers and distributors, Bobcat offers an extensive line of compact equipment, including loaders, excavators, compact tractors, utility products, telehandlers, mowers, attachments, implements, parts, and services. Headquartered in West Fargo, North Dakota, Bobcat continues to lead the industry, all while helping people succeed and build stronger communities and a better tomorrow.

©2023 Bobcat Company. All rights reserved.

Contacts

Nadine Erckenbrack, Bobcat Public Relations Manager

Email: na.newsroom@doosan.com
Mobile: 701-205-9207