Kontrol Technologies Launches BuildX AI Platform and Announces Loan Agreement
TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. (CBOE.CA:KNR) (OTCQB:KNRLF) (FSE:1K8) ("Kontrol Technologies" or "Kontrol" or "Company") provides corporate update and announces new BuildX AI platform for commercial and industrial buildings.
The Company serves over 400 commercial and industrial buildings with HVAC solutions and services. It has launched BuildX AI, a new platform designed to improve how building owners and operators interact with their buildings and HVAC systems. Traditionally, the industry focuses on equipment replacement and maintenance cycles, but this approach often lacks efficient data integration and analytics to improve how buildings and HVAC assets are managed. BuildX AI addresses this by connecting with existing equipment and incorporating advanced drone technology and sensors throughout buildings. Asset managers and owners will gain much needed insights and actionable data to improve operations and capital budgeting.
"AI enables us to process vast amounts of data and deliver actionable insights for better asset management and streamlined operations," said Paul Ghezzi, CEO of Kontrol. "We are in the early stages of growing our AI platform and are planning multiple customer pilots over the next six months."
The Company will provide an update on its pilots as they are completed.
The Company continues to review multiple potential acquisition opportunities. The potential acquisitions are subject to customary due diligence and definitive agreements. The Company will provide further details subject to reaching definitive agreements.
Loan Agreement
The Company further announced that it has entered into loan agreement dated May 2nd, 2025 (the ' Loan Agreement ') pursuant to which the Company has agreed to loan Paul Ghezzi, CEO of the Company, the principal amount of $680,000 (the ' Loan '). The Loan is repayable within one year and will bear interest at the CRA prescribed rate.
The Loan constitutes a 'related party transaction' pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The transaction is exempt from the formal valuation and minority securityholder approval requirements of MI 61-101 as the fair market value of the Loan does not exceed 25% of the Company's market capitalization, calculated in accordance with MI 61-101.
The Loan was unanimously approved by the directors of the Company entitled to vote thereon, which consisted of all directors of the Company except for Mr. Ghezzi who abstained from voting.
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.sedarplus.ca.
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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.
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.
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