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Kraken Provides Significant Technical Enhance for Royal Danish Navy’s Mine Countermeasures (MCM) Initiatives, The Canadian Enterprise Journal

Kraken Provides Significant Technical Enhance for Royal Danish Navy’s Mine Countermeasures (MCM) Initiatives, The Canadian Enterprise Journal
Kraken Provides Significant Technical Enhance for Royal Danish Navy’s Mine Countermeasures (MCM) Initiatives, The Canadian Enterprise Journal

ST. JOHN’S, Newfoundland, July 11, 2022 (Globe NEWSWIRE) — Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Business, is pleased to announce that underneath a deal with Danish Ministry of Defence, Acquisition and Logistics Business (DALO) it has shipped mine-looking sonar machines to the Royal Danish Navy. This includes Kraken’s KATFISH™ towed Synthetic Aperture Sonar, Tentacle® Winch and Autonomous Start and Restoration Procedure (ALARS). Kraken’s minehunting techniques are becoming integrated onboard the Royal Danish Navy’s optionally unmanned area vessels. Kraken’s program acceptance assessments with DALO and MCM Denmark are ongoing and will be concluded in the next half of this 12 months, next which MCM Denmark’s upgraded abilities are envisioned to be deployed operationally in early 2023.

Karl Kenny, Kraken President and CEO pointed out: “We are incredibly pleased to obtain this substantial milestone with offering our KATFISH™ and ALARS methods to the Royal Danish Navy. In spite of the several troubles of the earlier two decades, and the impacts on world offer chains that all firms have felt in our sector, Kraken is productively delivering a major technological improve to the minehunting capabilities of MCM Denmark. Our crew has been functioning intently with our consumers at DALO and MCM Denmark all through the Acquisition Contract, and as we complete acceptance screening this yr, we are wanting forward to a prolonged-expression relationship with the Danish Navy.”

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ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a maritime technological innovation firm focused to the manufacturing and sale of software program-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in Newfoundland with offices in Canada, U.S., Germany, Denmark, and Brazil. In July 2021, Kraken acquired PanGeo Subsea, a primary solutions company specializing in superior-resolution 3D acoustic imaging methods for the sub-seabed. PanGeo with places of work in Canada, the United States and the United Kingdom is now a wholly owned subsidiary of Kraken. Kraken is rated as a Leading 100 marine engineering enterprise by Maritime Engineering Reporter.

Sure facts in this information release constitutes ahead-searching statements. When utilised in this information release, the words and phrases “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to establish ahead-looking statements. In certain, this information release contains ahead-on the lookout statements with respect to, between other issues, small business goals, envisioned development, effects of operations, performance, business enterprise assignments and alternatives and economical benefits. These statements include known and not known pitfalls, uncertainties and other components that could lead to actual benefits or events to differ materially from people predicted in these types of ahead-looking statements. Such statements reflect the Company’s present views with respect to long term events primarily based on specified substance variables and assumptions and are subject to particular risks and uncertainties, which includes without having limitation, changes in current market, competition, governmental or regulatory developments, normal financial circumstances and other factors set out in the Company’s public disclosure files. Quite a few factors could lead to the Company’s genuine effects, performance or achievements to change from individuals described in this information release, including with no limitation those mentioned previously mentioned. These factors need to not be construed as exhaustive. Must one or much more of these dangers or uncertainties materialize, or should assumptions underlying forward-hunting statements prove incorrect, precise outcomes may possibly vary materially from all those explained in this news launch and this sort of ahead-hunting statements provided in, or included by reference in this information launch, must not be unduly relied on. Such statements communicate only as of the day of this information release. The Organization does not intend, and does not suppose any obligation, to update these ahead-wanting statements. The ahead-wanting statements contained in this news release are expressly capable by this cautionary assertion.

Neither the TSX Venture Trade Inc. nor its Regulation Companies Supply (as that expression is outlined in the procedures of the TSX Enterprise Exchange) accepts responsibility for the adequacy or precision of this launch, and the OTCQB has neither accredited nor disapproved the contents of this press release.

For further more details, remember to speak to:

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

Greg Reid, Main Operating Officer
(416) 818-9822
[email protected]

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

Pictures accompanying this announcement are obtainable at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/edd10f03-802b-4a11-8increase-b181b58d99ba

https://www.globenewswire.com/NewsRoom/AttachmentNg/6eef7926-abd5-4798-b7ab-fd947d0c0d69

Kraken Provides Significant Technical Enhance for Royal Danish Navy’s Mine Countermeasures (MCM) Initiatives, The Canadian Enterprise Journal
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