Pinnacle provided a $1 million secured bridge loan to a reporting issuer, Kontrol Energy Corp.
Kontrol Energy Completes Acquisition of CEM Specialties Inc.
TORONTO, Ontario - September 20, 2018 - Kontrol Energy Corp. (CSE:KNR, FSE:1K8), (“Kontrol”, or the “Company”) announces that it has completed the acquisition of CEM Specialties Inc. (“CEMSI”), previously announced on March 28, 2018 when the Company entered into a Letter of Intent with CEMSI. CEMSI is an established and leading integrator of turn-key emission monitoring equipment and solutions.
With more than 25 years of successful operating history, CEMSI provides the Canadian and US market with value added solutions for emissions and process monitoring applications. For the fiscal year ending July 31, 2018 CEMSI generated revenues of $6 Million and EBITDA of approximately $1 Million. A significant portion of CEMSI’s annual revenue is from multi-year recurring contracts and equipment sales.