Kraken Robotics Inc. Files Final Short Form Prospectus in reference to its Bought Deal Public Offering

May 17, 2024 | blog

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Final Short Form Prospectus Accessible on SEDAR+

Not for distribution to United States newswire providers or dissemination within the United States

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ST. JOHN’S, Newfoundland, May 16, 2024 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (“Kraken” or the “Company“) (TSX-V: PNG, OTCQB: KRKNF) announces that, further to its news 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 treasury of the Company, at a price of $0.95 per Common Share for total gross proceeds of $20,126,035 (the “Offering“), which includes the 2,763,300 Common Shares being issued at a price of $0.95 per Common Share pursuant to the exercise in full by the underwriters of the over-allotment option granted by the Company. The Offering will be conducted in each of the provinces of Canada, except Quebec and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

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Closing of the Offering is expected to occur on or about May 21, 2024, and is subject to regulatory approval including that of the TSX Venture Exchange.

Access to the Final Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from the Company at 189 Glencoe Drive, Mount Pearl, NL, A1N 4P6, telephone 709-757-5757 by email at and by providing the contact with an email address or address, as applicable.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

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Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Our high-resolution 3D acoustic imaging solutions and services enable clients to overcome 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 a Top 100 marine technology company by Marine Technology Reporter.







Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and comparable expressions, as they relate to the Company, are meant to determine forward-looking statements. In specific, this information launch incorporates forward-looking statements with respect to, amongst different issues, closing of the Offering and receipt of regulatory approvals, together with from the TSX Venture Exchange. These statements contain recognized and unknown dangers, uncertainties and different components which will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Such statements mirror the Company’s present views with respect to future occasions primarily based on sure materials components and assumptions and are topic to sure dangers and uncertainties, together with with out limitation, modifications in market, competitors, governmental or regulatory developments, common financial circumstances and different components set out within the Company’s public disclosure paperwork. Many components might trigger the Company’s precise outcomes, efficiency or achievements to differ from these described on this information launch, together with with out limitation these listed above. These components shouldn’t be construed as exhaustive. Should a number of of those dangers or uncertainties materialize, or ought to assumptions underlying forward-looking statements show incorrect, precise outcomes could differ materially from these described on this information launch and such forward-looking statements included in, or included by reference on this information launch, shouldn’t be unduly relied upon. Such statements communicate solely as of the date of this information launch. The Company doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements. The forward-looking statements contained on this information launch are expressly certified by this cautionary assertion.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this launch, and the OTCQB has neither authorized nor disapproved the contents of this press launch.

For additional info:

Joe MacKay, Chief Financial Officer
(416) 303-0605

Greg Reid, President & CEO
(416) 818-9822

Sean Peasgood, Investor Relations
(647) 955-1274

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