On October 31, 2019, Kontrol Energy Corp. (CSE: KNR, OTCQB: KNRLF, FSE:1K8) (“Kontrol”) announced the completion of a $3 million secured loan financing (the “Loan”) with FirePower Capital. The indicative terms of the loan were initially announced on August 9, 2019.
WeirFoulds represented Kontrol in the financing deal with a team that included Dan Thomson and Adrian Howard of our Private Equity Group, Ryan Morris of our Tax group and Rob Eberschlag of our Securities Group.
The Loan refinances existing debt, providing incremental increased funding capacity and converts approximately $3,000,000 of Kontrol’s existing short-term debt into a long-term obligation.
Kontrol Energy Corp. is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
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