TORONTO–(BUSINESS WIRE)–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, has entered the college and university student housing market with the first installation of its SmartSuite® technology.

“We continue to seek to expand into new market verticals such as the growing student housing market,” said Paul Ghezzi, CEO of Kontrol Technologies. “Our SmartSuite® technology is designed to provide building automation and in-suite control over heating, cooling and ventilation through a unified, cloud-based solution. By consolidating the management of each suite and building to one platform, our products are designed to enable our customers across various sectors to drive energy savings and reduce emissions to improve the performance of their buildings.”

How SmartSuite® Technology Operates

Designed for the commercial, multi-residential and hospitality building sectors and driven by the move to smart buildings and smart cities, the SmartSuite® thermostat and cloud technology is designed to deliver energy savings, corresponding GHG emission reductions and a unified platform to manage all suites and buildings from the cloud.

The SmartSuite® capabilities include:

• Real-time energy management and conversation
• Data management, analytics and trending analysis
• Multiple user interfaces
• Integrated with window and door sensors
• Ability to communicate with utilities for demand response

The first SmartSuite® installation is for a student housing REIT which operates across Canada and manages and develops purpose-built rental housing for the university and college student housing market.

According to Cushman & Wakefield, total university-owned (on-campus) and privately-owned (off-campus) housing provide about 145,000 beds in these markets, which represents about 15% of total full-time students. Of this total, about 45,000 beds are located in privately-owned, off-campus student residences.¹

According to the National Multi-Family Housing Association Council (NMHC), there are 8.6 million student beds in the U.S., which will grow to 9.2 million by 2031.²

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

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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. Forward-looking information contained in this press releases includes, but is not limited to, the following: potential benefits of the Company’s products for its customers and potential customers; the growth of the student housing market; the future success of any of Kontrol’s products; and customer demand relating to energy management.

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; that future products of the Company can be installed as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated performance of the installation of and energy saving and emission reduction relating to the SmartSuite will go as planned for the college and university student market; and that demand will continue for energy management products and for the Company’s products in particular.

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 the Company’s technologies will not prove as effective as expected; that customers and potential customers will not be as accepting of the Company’s product and service offerings as expected and/or that demand for such products and services will not continue; that Kontrol SmartSuite will not be replicated in the future; that the markets the Company participates in will not expand as currently anticipated; and that the Company will not maintain its existing relationships or contracts on the same terms or at all.

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.

¹ https://www.cushmanwakefield.com/en/canada/insights/canadian-student-housing-outlook
² www.nmhc.org/news/press-release/2021/student-housing-demand-will-remain-strong-but-will-be-more-diverse-and-focused-on-affordability/

Contacts

Kontrol Technologies Corp.
Paul Ghezzi

CEO

info@kontrolcorp.com
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us
Tel: +1 (949) 546.6326

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC) today issued the following statement regarding the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan issued Wednesday.

“Wells Fargo welcomes the release of the PAVE Action Plan and commends the Task Force’s work,” said Mike Weinbach, head of Wells Fargo Consumer Lending. “Homeownership is a pillar of wealth building, and ensuring the credibility of property appraisals and valuations is of critical importance to our customers and communities. Wells Fargo has reviewed the report and has initiatives underway that support its recommendations, such as our apprenticeship program to expand the pipeline of diverse appraisers. Wells Fargo is pleased to assist in socializing and implementing the recommended initiatives to eliminate discrimination in the appraisal process and improve valuation accuracy.”

“Wells Fargo is focused on addressing inequalities across the housing sector,” said Mike Weinbach. “Kristy Fercho, head of Wells Fargo Home Lending and chair of the Project REACh Affordable Homeownership Workstream, and I look forward to socializing the Action Plan and engaging with the findings and recommendations both individually and through our engagement with industry collaborations like OCC Project REACh.”

“I appreciate the work of the PAVE Task Force and am pleased to see the Action Plan highlight early progress being made, particularly work underway in OCC Project REACh,” said Kristy Fercho. “Fair property valuations are critical to sustainably growing minority household wealth through homeownership, which is the central focus of the Project REACh Affordable Homeownership Workstream.”

Launched in May 2021, a subgroup of the Affordable Homeownership effort was formed to examine the role racial bias has on homeownership, identify the role of lenders, and identify specific actions lenders, nonprofits, and policymakers can take to address bias in the appraisal process.

“I am proud of the progress our REACh appraisal subgroup is making and look forward to the Action Plan being incorporated into our work,” added Fercho.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-CF

Contacts

Government Relations and Public Policy
Robert Sumner, (202) 941-4717

Robert.Sumner@WellsFargo.com

TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol Technologies” or “Kontrol” or “Company“) a leader in smart buildings and cities through IoT, Cloud and SaaS technology will report its Fiscal Year End 2021 financial results, for the period ended December 31^st, 2021, on March 31^st, 2022 (the “filing date”). A complete set of the Financial Statements and Management’s Discussion & Analysis will also be filed on SEDAR (www.sedar.com) on the filing date.

A call to discuss the financial results has been scheduled for Thursday, March 31^st, 2022, at 8:30AM (Eastern). The event will be hosted by Paul Ghezzi, CEO and Claudio Del Vasto, CFO, of Kontrol Technologies Corp. We kindly request all participants to please connect at least 5 minutes prior to the event start time.

Event Details:

Title:	Kontrol Technologies Reports Fiscal Year End 2021 Financial Results
Event Date and Time:	March 31st, 2022 @ 8:30 AM Eastern
Event Duration:	45 Minutes
Audience URL:	https://produceredition.webcasts.com/starthere.jsp?ei=1538935&tp_key=f81690368f
Call- in Numbers:	Confirmation #: 19376558 Local: 416-764-8609 (Toronto) North American Toll Free: 888-390-0605

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.

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.

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
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us
Tel: +1 (949) 546.6326