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TORONTO, March 28, 2018 /CNW/ - Kontrol Energy Corp. (CSE:KNR, FSE:1K8) (the "Company") announces that it has entered into a Letter of Intent (LOI) to acquire an established and leading provider of Emission Monitoring solutions (the "Target"). The Target has been providing the Canadian and US market with high quality, value added solutions for emissions and process monitoring applications for more than 20 years. The Target has averaged revenues (unaudited) of over $5 Million and normalized EBITDA of approximately $900,000 over the past 3 years. The purchase price is $3.35 Million CAD subject to working capital adjustments with a vendor take back of up to approximately $500,000 for 12 months at an interest rate of 6%. 

"We are looking forward to completing this acquisition as it is a strong strategic fit with our existing subsidiary ORTECH Consulting Inc.," says Paul Ghezzi, CEO of Kontrol Energy. "Expanding our emission monitoring and solutions vertical in Canada and gaining a growing footprint in the USA is part of our long-term strategy."

The acquisition is subject to due diligence, applicable approvals and a definitive purchase and sale agreement. The acquisition is anticipated to be completed in 120 days or less. The financing is anticipated to be primarily from long-term debt sources.

 
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March 27, 2018

The idiom "the straw that broke the camel's back" describes a minor or routine action that causes a large and sudden reaction because of the cumulative effects of many other small actions. This might well describe the state of business investment and entrepreneurship in Canada.

After years of mounting tax and increased regulation, coupled with a decidedly anti-business rhetoric from many capitals across the country, it seems the back of business investment and entrepreneurship in Canada has been broken.

The question is whether governments in Canada are interested in repairing it.

The list of policy changes that have made Canada a less attractive place to do business is significant. In recent years, the federal and many provincial governments increased already uncompetitive personal income tax rates to the point where the top combined rate now exceeds 50 per cent in seven provinces, with the remaining provinces just below 50 per cent. And because Canada's capital gains tax is linked to personal income taxes, these rate changes have also increased capital gains taxes.

The federal and several provincial governments have also added more complex and burdensome regulations on labour, energy, infrastructure projects, environment, health and safety, and finance, to name just a few.

In addition, Ottawa continues to push forward with national carbon-pricing despite the United States and other competitors such as Australia reversing course. Even advocates for carbon-pricing have criticized Canada for an overly complex approach.

Importantly, most of these policy changes were enacted before the recent sweeping tax reforms in the U.S., which for the first time in over two decades mean Canada's business taxes are no longer competitive with the U.S.

U.S. reforms will lower the effective tax rates on new investments from 34.6 per cent to 18.8 per cent. Canada's comparable rate on new investments is 21.2 per cent, and both Prime Minister Justin Trudeau and the Finance Minister Bill Morneau have flatly stated Canada will not respond until there's clear evidence of the need to do so.

Given Canada's dismal business investment and entrepreneurship performance, it's not clear what additional information they require.

Since peaking at the end of 2014, total business investment - excluding residential housing and adjusted for inflation - is down almost 17 per cent. Private-sector investment in factories and other structures is down 23.3 per cent and investment in machinery and equipment is down 6.6 per cent.

 
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March 21, 2018

CoroCut® QF is a new concept from cutting tool and tooling systems specialist, Sandvik Coromant, that has been developed exclusively for face grooving. Designed to deliver unmatched reliability and superior process security, even when machining deep and narrow face grooves, CoroCut® QF also provides enhanced accessibility to awkward features.

“When machining a face groove, chips can easily get stuck in the groove and harm production efficiency, which is why process stability is so important,” explains Jenny Claus, Product Manager for Parting and Grooving at Sandvik Coromant. “CoroCut® QF features a strong design to promote high blade stiffness, while precision coolant further aids successful and repeatable face grooving. In fact, the insert is tilted for extra stability, while an innovative slit design ensures the correct clamping force is applied. Special rails at the top, bottom and back of the insert also facilitate process security by minimizing insert movement.”

The additional characteristics of CoroCut® QF that boost process stability include a new version of the axial-mounting CoroTurn® SL head. Use of SL heads means customers can utilize CoroCut® QF on damped Silent Tools™ boring bars for stable, high-quality internal face grooving with increased accessibility to difficult to reach features.

The presence of precision over-and under-coolant on a tool of this type is unique in the marketplace and particularly useful when producing deep and narrow face grooves. Chips stuck in grooves can lead to insert breakage and jeopardized processes. During face grooving, it is common for operators to decrease the feed if chips jam, which in turn impedes productivity. As a result, good chip control and a rigid system that can handle the cutting forces are crucial. This capability can also provide the potential for unmanned machining.

In a customer case example, poor chip control and noise were among the issues when face grooving audio-system parts made from low-carbon steel on a CNC turning center with 35 bar (508 psi) pressure coolant. By switching to CoroCut® QF, the enhanced chip control and process security provided many benefits, most notably an increase in component completion from 50 to 120 components (140% more tool life). Furthermore, the need for the customer to stop production every 10 components to remove chips that could otherwise block turret rotation was eliminated.

CoroCut® QF will be launched in cutting widths of 3 and 4 mm (0.118 and 0.157 inch), four grades (GC1105, GC1125, GC1135 and GC1145) with -TF geometry for deep face grooving. Tailor Made service is also available which makes it possible to build an optimized tool with the exact cutting depth and diameter range required for a specific component.

For more information, please visit www.sandvik.coromant.com/en-us/products/corocut_qf/pages/default.aspx

 
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KEMP, Texas, March 21, 2018 (GLOBE NEWSWIRE) -- Industrial lighting leader, Larson Electronics LLC, released a 300 watt quad pod mounted explosion proof LED light tower, capable of illuminating an area up to 14,500 square with 35,00 lumens of bright illumination. This adjustable Cree LED light tower is designed for portability and durable operation in harsh, demanding conditions such as emergency services, mining, construction, marine, and industrial operations.

The EPLC2-QP-2X150LED-100 is a Class I Division 1, Class II Divisions 1 & 2 and Class III Divisions 1 & 2 explosion proof quadpod mounted LED lighting system, with an output of 35,000 lumens of light projected over 14,500 square feet of work area. This portable LED light tower features two removable lamp heads, each containing twelve LED bulbs. Paired with high purity optics, these light heads produce 17,500 lumens in a flood beam pattern, drawing only 1.25 amps on 120V for extremely efficient and powerful illumination. This LED light tower is perfect for replacing metal halide floodlights that are too fragile for explosive environments and run too hot.

With impressive illumination capabilities comes equally impressive functionality. This portable LED light is mounted on a four-legged, non-sparking aluminum quadpod with a tower adjustable from seven feet to twelve feet. The tower can be completely taken apart for storage and transportation and the quadpod mount includes solid wheels for easy movement from one area of the workspace to another. Additionally, this explosion proof LED is equipped with 300 feet of 16/3 chemical and abrasion resistant SOOW cord, fitted with an explosion proof cord cap, making connections to explosion proof outlets a breeze.

“The EPLC2-QP-2X150LED-100 is a more compact tower, but still packs a heavy punch like our bigger units,” said Rob Bresnahan, CEO of Larson Electronics LLC. “Its 35,000 lumens cover a space of 14,500 square feet in size, which is impressive for a collapsible, very mobile tower. The unit gives operators more than adequate lighting for their job site, that can be easily transported."

 
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OTTAWA, March 19, 2018 /CNW/ - Today in Ottawa, an exciting new initiative was launched that will lay the groundwork for the first fifth generation wireless, abbreviated 5G, pre-commercial network platform in Canada with ENCQOR (Evolution of Networked Services through a Corridor in Québec and Ontario for Research and Innovation).

ENCQOR is a transformational $400 million partnership that brings together five global digital technology leaders (Ericsson, Ciena Canada Inc., Thales Canada Inc., IBM Canada, and CGI) and provincial coordinators Prompt, CEFRIO, and Ontario Centres of Excellence (OCE). This partnership is made possible in part by funding from the Canadian government and the provincial governments of Quebec and Ontario.

Over the next five years, ENCQOR is establishing the first Canadian pre-commercial corridor of 5G wireless communication technologies — the next generation of digital communication and the key to unlocking the massive potential of smart cities, smart grid, e-health, e-education, connected and autonomous vehicles, on-demand entertainment and media, and the Internet of Things (IoT), among others. It will also secure over 4,000 good middle-class jobs, including 1,800 specialized 5G jobs, over the next five years leading to new innovations in wireless telecommunications. In addition, the project is expected to create jobs at SMEs across Ontario and Quebec.

This initiative will develop a world-class collaborative platform for accelerating the transition to game-changing 5G technology in Quebec, Ontario, and Canada by bringing together a wide network of small- and medium-sized enterprises (SMEs), industry, government, researchers and academia in both provinces to collaborate on the creation and commercialization of new and disruptive products, processes, and services.

"Technology is changing the way we live, work and engage with one another, and we are in a global innovation race," says the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. "To prepare for the future, we must be bold, visionary and decisive. That's why our government is investing in 5G technology. This investment in next-generation wireless technology will help make Canada a global innovation leader and secure 4,000 jobs."

A public-private partnership in the field of ultra-high-speed communications, ENCQOR will focus on research and innovation in the field of 5G disruptive technologies, on adoption initiatives and system uses. With download speeds up to 100 times faster than current 4G technology, 5G and ENCQOR will transform the capabilities of SMEs to create and compete in the global marketplace.

"The Government of Quebec is proud to contribute to the success of the ENCQOR project, which will create an important synergy between businesses—particularly businesses in the information and communications technologies sector—and the research and innovation community," says Dominique Anglade, Quebec Deputy Premier, Minister of Economy, Science and Innovation, and Minister responsible for the Digital Strategy. "We are banking on such collaborations, like those also made possible by the Quebec Digital Strategy and the 2017–2022 Quebec Research and Innovation Strategy, to make Quebec a leader in innovation and the development of cutting-edge digital technologies. Boldness, creativity and an innovative spirit are the hallmarks of Quebec, and it will now have a strong presence in the new reality brought on by 5G."

"This exciting 5G initiative will help our businesses here in Ontario—and across Canada—capitalize on the vast potential of high-speed communications technology to expand their horizons, accelerate their innovation, and transform the way we all live and do business," says Reza Moridi, Ontario's Minister of Research, Innovation and Science.

Using a collaborative approach, ENCQOR will see SMEs engaged in calls for projects and other streams together with industry partners in order to accelerate the development and adoption of transformative technologies that allow Central Canada to build the backbone of the next generation of digital infrastructure.

Quick Facts

  • ENCQOR establishes the first Canadian pre-commercial corridor of 5G wireless communication technologies — the key to accelerating the transition to game-changing 5G technology.
  • ENCQOR's cutting-edge platforms will leverage 5G to empower entrepreneurs and SMEs to develop and export a new wave of creative products and services in areas such as smart cities, e-health, connected and autonomous vehicles, fintech, cybersecurity, the Internet of Things (IoT) and others.
  • This project will establish a world-class collaborative platform in Canada for ICT and digital technology research, innovation, and application demonstration, involving dozens of universities, colleges and research centres in both provinces, coming together on a unique open innovation research infrastructure in which 5G, cloud computing, and big data are the dominant technologies of interest.

Quotes

  • "The introduction of 5G will enable new services, new ecosystems, and new revenue streams for operators across Canada. R&D work done here in Canada has been a large contributor to Ericsson's global leadership in 5G already, and we are excited to now bring this innovative work to Canada as part of the ENCQOR partnership."
    – Graham Osborne, Head of Ericsson Canada
  • "The ENCQOR project will enable a significant step in the evolution and commercialization of 5G, and we look forward to working with these partners to drive forward this next generation of mobile networks. Ciena's expertise in packet, optical and software-enabled technologies plays a key role in creating more adaptive networks accelerating the adoption of 5G."
    – Scott McFeely, Senior Vice President, Ciena
  • "ENCQOR reflects the tireless commitment of Canada's technology leaders working together with the federal government, and the Quebec and Ontario governments to bring next generation 5G technology to solutions that we rely on every day. From a safer commute to smarter cities, this partnership reflects Thales' continued commitment to Canadian innovation in four key domains - connectivity, big data, artificial intelligence and cybersecurity which will support the creation of new 5G solutions to make life better and keep us safer."
    – Mark Halinaty, President and CEO, Thales Canada
  • "Our development initiatives in silicon photonics packaging are an integral part of IBM's continued innovation. We view the support through the ENCQOR consortium as an important way to transform industries through the assembly of key components in high bandwidth networks. We look forward to working with our partners within the consortium and collaborating together to create the essential components that will be at the heart of 5G networks."
    – Louis Labelle, Director-in-Chief of Bromont Plant, IBM Canada
  • "At CGI, we understand that partnership is essential to driving innovation for our clients, and this project is a great example of partnership in action. Through this pioneering initiative, we have an opportunity to develop innovative solutions that will help worldwide organizations becoming digital. CGI is excited to be a part of this work, and we look forward to the many advantages it will deliver to our clients."
    – Michael Godin, Senior Vice-President, CGI
 

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