Kontrol Technologies (CSE: KNR) last night announced that it has received approval to uplist to the Neo Exchange. The move will also see the company concurrently delist from the Canadian Securities Exchange.
The company expects to see its shares begin trading under the symbol “KNR” on the Neo as of May 6, 2021, following a delisting from the CSE as of the close of markets today. The company does not expect the transition to impact current shareholders
The move is reportedly a result of the company seeking larger exposure and visibility, within both Canada and the US. Notably, popular trading platform WealthSimple, which is Canada’s equivalent of Robinhood, allows for the purchase of equities on the Neo, while CSE listings are not available.
Finally, as a result of the delisting from the CSE, the company has also cancelled its normal course issuer bid, also known as a buyback program. Kontrol has indicated that it intends to implement a similar program once listed on the Neo, with further details to be announced in the future.
Kontrol Technologies last traded at $2.31 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.
