Kontrol Technologies partners with RCAP Leasing to offer a financing solution for BioCloud customers

TORONTO, May 10, 2021 /PRNewswire/ - Kontrol Technologies Corp. (NEO: KNR) (OTC: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol") a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to announce that it has selected RCAP Leasing ("RCAP"), a leading Canadian financing company, to offer lease finance options to customers of BioCloud.

"Providing our customers with access to a finance solution that is simple, easy to administer and transparent are all important features for those who would like to purchase BioCloud units but prefer to amortize that purchase monthly," says Paul Ghezzi, CEO of Kontrol. "The RCAP model allows us to focus on manufacturing and distribution while providing our customers with greater financing flexibility."

Leasing Terms  

RCAP Leasing will be responsible for lease structuring and approval - typical lease terms will range from 2 to 5 years, monthly payment, and a nominal buyout.  Financing through RCAP Leasing will be available across Kontrol's distribution network in Canada.

"We at RCAP Leasing are excited about the opportunity to support Kontrol BioCloud with a point-of-sale financing solution." says Kevin Archibald, Director of Sales at RCAP.  "Our lease offering will allow Kontrol BioCloud's customers to lease with a low, fixed monthly payment over a set term.  The offering will also allow customers to preserve valuable working capital and enjoy ease of acquisition."

About Kontrol BioCloud^TM

BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, offices, retirement homes, hospitals, mass transportation and others. Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com

About RCAP® Leasing 

RCAP Leasing operates one of Canada's longest-serving and most-respected equipment financing businesses. Our professionals have been meeting the equipment financing needs of our Vendor and Broker partners since 1967 and have a proud tradition of empowering the growth and productivity of Canadian businesses. At RCAP Leasing, we make equipment finance easy to help grow your sales.

About 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 Technologies provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

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 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 offering as expected, and government and regulatory factors impacting the energy conservation industry. Kontrol BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).

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.

SOURCE Kontrol Technologies Corp.

Related Links

https://www.kontrolbiocloud.com/