Kontrol Energy (CSE:KNR) has announced it has terminated its proposed acquisition of up to 20 Megawatts of solar power generation assets mentioned in its press release of May 4, 2017 and July 20, 2017.
As quoted in the press release:
In the course of completing its due diligence, Kontrol determined that the economics of the proposed transaction did not meet Kontrol’s targeted internal rates of return on equity and cash flows. Paul Ghezzi, CEO of Kontrol commented, “Our objective is to maximize shareholder value over the long-term. We have completed 4 acquisitions in the past 12 months and have numerous potential target acquisitions in various stages of due diligence and look forward to continuing to execute for the benefit of our shareholders.”