Kraken Robotics Reports Results of Annual and Special Meeting of Shareholders
04 July 2023 - 8:00PM
Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG,
OTCQB: KRKNF) announces that its 2023 Annual and Special Meeting of
Shareholders was held virtually on Tuesday, June 27, 2023, at 1 pm
EST. Shareholders voted in favour of all items put forward by the
Board of Directors and Management. A total of 63,376,975 common
shares were voted, representing 30.76% of total shares issued and
outstanding as at the record date of the meeting.
Shareholders voted in favour of:
- Electing five directors, being Greg
Reid, Shaun McEwan, Larry Puddister, Michael Connor, and Bernard
Mills;
- The appointment of KPMG as Auditors
of the Company and authorizing directors to fix the remuneration of
the auditors;
- Approving the amended and restated
stock option plan (the “Stock Option
Plan”);
- Approving the restricted share unit
plan, under which the Company can reserve up to 10% of the number
of common shares outstanding at any given time for the issuance of
restricted share units, less the number of common shares reserved
for issuance under the Stock Option Plan; and
- Approving a consolidation of the
common shares to occur as and when determined by the Board of
Directors based on a ratio of between two to seven
pre-consolidation shares for each post-consolidation share
Separately, the Company would like to
acknowledge that Karl Kenny, company founder, former CEO and long
serving board member has retired from the board and did not stand
for re-election. “On behalf of the Board of Directors, management
and shareholders, we wish Karl the best in his retirement. We thank
Karl for his strategic vision, guidance, and tenacity over the
years. That tenacity, along with a constant pursuit of innovation,
will carry on within Kraken. It has been instrumental in growing
Kraken from a start-up to a leading provider of essential sonar and
subsea battery technologies to leading defense and offshore energy
customers around the world,” said Kraken President and CEO, Greg
Reid.
ABOUT KRAKEN ROBOTICS INC.
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.
LINKS:www.krakenrobotics.com
SOCIAL MEDIA:LinkedIn
www.linkedin.com/company/krakenrobotics Twitter
www.twitter.com/krakenrobotics Facebook
www.facebook.com/krakenroboticsinc YouTube
www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A Instagram
www.instagram.com/krakenrobotics
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 similar expressions, as they relate to the Company,
are intended to identify forward-looking statements. In particular,
this news release contains forward-looking statements with respect
to, among other things, business objectives, expected growth,
results of operations, performance, business projects and
opportunities and financial results. These statements involve 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
based on certain material factors and assumptions and are subject
to certain risks and uncertainties, including without limitation,
changes in market, competition, governmental or regulatory
developments, general economic conditions and other factors set out
in the Company's public disclosure documents. Many factors could
cause the Company's actual results, performance or achievements to
vary from those described in this news release, including without
limitation those listed above. These factors should not be
construed as exhaustive. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying
forward-looking statements prove incorrect, actual results may vary
materially from those described in this news release and such
forward-looking statements included in, or incorporated by
reference in this news release, should not be unduly relied upon.
Such statements speak only as of the date of this news release. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements. The forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provide (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release, and the OTCQB has neither
approved nor disapproved the contents of this press release.
For further information:
Stephen Griffin, Group Marketing
ManagerStephen.Griffin@krakenrobotics.com
Joe MacKay, Chief Financial Officer(416)
303-0605jmackay@krakenrobotics.com
Greg Reid, President & CEO(416)
818-9822greid@krakenrobotics.com
Sean Peasgood, Investor Relations(647)
955-1274sean@sophiccapital.com
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