Kraken Announces Changes to Board of Directors
20 November 2023 - 10:30PM
Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG,
OTCQB: KRKNF) is pleased to announce that effective November 20,
Peter A. Hunter has been appointed to the Company’s Board of
Directors. Mr. Hunter replaces Larry Puddister, a long time Kraken
Director who has resigned. Mr. Puddister has other active business
interests and has resigned from his board position with the Company
to dedicate more attention to those interests.
Mr. Hunter is the founder, Chairman, and
Managing Partner of Artemis Capital Partners, L.P., a
Boston-based specialized private equity firm focused
on differentiated industrial
technology manufacturers. An attorney and a CPA, Mr.
Hunter brings more than 30 years of experience as both an investor
and operator. His areas of expertise include strategic growth,
structuring of multi-stakeholder strategies (including M&A,
joint ventures and partnerships), corporate governance, and
organizational planning. Mr. Hunter also brings subsea technology
expertise to Kraken’s Board, having served 3 years as the
Chairman of Hydroid, LLC, an industry leader in unmanned
underwater vehicles (UUVs) with its REMUS UUV brand. Mr.
Hunter was Chairman of Hydroid from its early days to its
eventual acquisition by Kongsberg Maritime, AS in 2008.
Hydroid was subsequently acquired from Kongsberg in 2020 by
Huntington Ingalls, the US Navy’s largest shipbuilder and UUV
provider (now known as HII).
Commenting on the changes, Greg Reid, Kraken’s
President and CEO and Director noted, “We are very
pleased to welcome Peter to the Board of Directors. His
strategic, governance, financial, and operational experience and
knowledge of the subsea industry will add significant value to
Kraken. In addition, on behalf of management and the Board, I would
like to thank Larry for his input and guidance over the years and
we all wish him the best in his future endeavors.”
The Company issued 400,000 stock options to Mr.
Hunter in connection with his appointment to the Board. These
options have a five-year term, with vesting in three equal
instalments on the date of grant and on the one and two-year
anniversaries of the date of grant. Each option is exercisable for
one common share at an exercise price of $0.495.
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:
Jack North,
Marketingjnorth@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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