Kontrol Energy Corp (CSE: KNR) this morning announced that it has entered into an exclusive distribution agreement across several specific industries this morning. The arrangement, entered into with that of the United Safety and Survivability Corporation, will see the company provide exclusive distribution terms across a number of industries within North America, Australia, and New Zealand.
Granted for a period of twelve months with a six month renewal option, the exclusivity period is based on 5,000 units of BioCloud being sold per annum on a best efforts basis. The agreement applies to the industries that are defined as “buses, rail and locomotive, subways, ambulances, fire trucks, first responder and military vehicles,” along with the applicable associated facilities across the geographies of New Zealand, Australia, and North America.
No financial aspects of the arrangement, including pricing of the devices, or what United Health paid for the exclusive arrangement, were provided by Kontrol Energy, with the firm stating that they were not disclosed for “industry competitive purposes.”
However, the product offering appears to fit in nicely with United Health’s current product offerings. Presently, the firm designs and builds specialty survivability systems for military vehicles, as well as fire suppression systems for school buses, public transport vehicles, heavy machinery and more. Further, the company also offers active air purification and microbial surface treatment systems that are designed to eliminate bacteria and viruses from the surface and air.
Kontrol Energy last traded at $3.42 on the CSE.
Information for this briefing was found via Sedar and Kontrol Energy Systems. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
