Kraken Robotics Inc. Files Final Short Form Prospectus in Connection with Its Bought Deal Public Offering - Latest Global News

Kraken Robotics Inc. Files Final Short Form Prospectus in Connection with Its Bought Deal Public Offering

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Final Prospectus available on SEDAR+

Not intended for distribution to the United States intelligence community or for distribution in the United States

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ST. JOHN’S, Newfoundland, May 16, 2024 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (“octopus” or the “Pursue“) (TSX-V: PNG, OTCQB: KRKNF) announces that, subsequent to its press release dated April 25, 2024, it has filed a final short form prospectus dated May 16, 2024 (the “Final prospectus“) to qualify the distribution of 21,185,300 common shares (the “Common shares“) from the Company’s cash balance at a price of $0.95 per common share for aggregate gross proceeds of $20,126,035 (the “Offer“), including the 2,763,300 shares of common stock to be issued at a price of $0.95 per share of common stock pursuant to the exercise by the underwriters in full of the over-allotment option granted by the Company. The offering will be conducted in all provinces of Canada except Quebec and may be offered in the United States by private placement pursuant to an exemption from U.S. registration requirements United States Securities Act of 1933as amended from time to time and applicable state securities laws and certain other jurisdictions outside of Canada and the United States.

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The offering is expected to close on or about May 21, 2024 and is subject to regulatory approval, including the TSX Venture Exchange.

Access to the final prospectus and any amendments thereto will be in accordance with securities laws relating to procedures for providing access to a short form prospectus and any amendments thereto. The final prospectus is available on SEDAR+ at www.sedarplus.ca. An electronic or hard copy of the final prospectus and any amendments may be obtained free of charge from the Company at 189 Glencoe Drive, Mount Pearl, NL, A1N 4P6, telephone 709-757-5757, by email at [email protected] and by If necessary, provide the contact with an email address or address.

This press release does not constitute an offer to sell securities in the United States. The securities being offered have not been and will not be registered under the United States Securities Act of 1933as amended from time to time, and such securities may not be offered or sold in the United States unless registered under the United States federal and state securities laws or exempt from such United States registration requirements.

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ABOUT KRAKEN ROBOTICS INC.

Kraken Robotics Inc. (TSX.V:PNG) (OTCQB:KRKNF) is a marine technology company that offers complex underwater sensors, batteries and robotic systems. Our high-resolution 3D acoustic imaging solutions and services enable our customers to meet the challenges in our oceans safely, efficiently and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as one of the top 100 marine technology companies by Marine Technology Reporter.

LEFT:
www.krakenrobotics.com

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Certain information in this press release constitutes forward-looking statements. In this press release, the words “may,” “would,” “could,” “will,” “intend,” “plan,” “anticipate,” “believe,” “seek.” “,” “suggest,” “estimate,” “expect” and similar expressions referring to the Company are intended to identify forward-looking statements. This press release contains, in particular, forward-looking statements relating, among other things, to the completion of the offering and receipt of regulatory approvals, including from the TSX Venture Exchange. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events, which are based on certain material factors and assumptions, and are subject to certain risks and uncertainties, including, but not limited to, market and competitive changes, governmental or regulatory developments, general economic conditions and other specified factors are set forth in the Company’s disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to differ from those described in this press release, including, but not limited to, those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described in this press release and the forward-looking statements contained in this press release or incorporated by reference to this release one should not rely unreasonably. Such statements speak only as of the date of this press release. The Company does not intend and assumes no obligation to update these forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release and the OTCQB has neither approved nor disapproved the contents of this press release.

For more information:

Joe MacKay, Chief Financial Officer
(416) 303-0605
[email protected]

Greg Reid, President and CEO
(416) 818-9822
[email protected]

Sean Peasgood, Investor Relations
(647) 955-1274
[email protected]
1396-0541-4924

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