News: NCIB now onKontrol Technologies announces new intended Normal Course Issuer Bid through the NEO Exchange TORONTO, June 4, 2021 /CNW/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol" or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to announce the that it intends to implement a new Normal Course Issuer Bid (the "NCIB") program to buy back common shares of Kontrol through the facilities of the NEO Exchange ("NEO") and/or alternative trading systems. Articles@newswire/kontrol-technologies-announces-new-intended-normal channel 11 online Today This week by @newswire on 4 Jun 2021, 10:41 Kontrol Technologies announces new intended Normal Course Issuer Bid through the NEO Exchange TORONTO, June 4, 2021 /CNW/ - Kontrol Technologies Corp. (NEO: KNR) (OTCQB: KNRLF) (FSE: 1K8) ("Kontrol Technologies" or "Kontrol" or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to announce the that it intends to implement a new Normal Course Issuer Bid (the "NCIB") program to buy back common shares of Kontrol through the facilities of the NEO Exchange ("NEO") and/or alternative trading systems. Kontrol Technologies logo (CNW Group/Kontrol Technologies Corp.) The NCIB has been approved by Kontrol's board of directors and accepted by NEO and will be executed in accordance with the applicable rules and polices of NEO and any applicable Canadian securities laws. Pursuant to the NCIB, Kontrol may purchase, from time to time, over a period of 12 months starting June 4, 2021, and ending June 4, 2022, up to 2,102,885 common shares (being approximately 5% of the issued and outstanding common shares. As of the date the Company filed a draft Notice of Normal Course Issuer Bid (Form 20A), there were 42,057,711 common shares of Kontrol issued and outstanding. On any given day, during the NCIB, Kontrol may only purchase up to 74,691 common shares, which is equivalent to 25% of the average daily trading volume of 298,765 calculated based on the trading volumes on the over the past 6 months and may purchase once per calendar week, in a block trade, a greater number of common shares. Purchases under the NCIB may commence as of June 4, 2021 and will end on the earlier of: (i) June 4, 2022; or (ii) the date on which Kontrol has purchased the maximum number of common shares to be acquired under the NCIB. All purchases made will be through the selected purchasing member, PI Financial Corporation, acting on behalf of Kontrol. The purchases will be made in accordance with the rules of the NEO, through the facilities of the NEO or through alternative trading systems. The actual number of common shares which will be purchased, the timing of such purchases, and the price which the common shares will be purchased by Kontrol will be aligned with NEO Listing Manual guidelines. The common shares purchased under the NCIB will be cancelled. Kontrol's Board of Directors believes that the market price of Kontrol's common shares may from time to time not reflect the underlying value of Kontrol, specifically its growth opportunities, and that the proposed purchasing of its common shares is in the best interests of Kontrol and represents an appropriate use of corporate funds. It is expected that any purchases made by Kontrol could also enhance value and liquidity for its shareholders