Kraken Robotics Appoints Peter Hunter as Chairman of Board of Directors

ST. JOHN'S, Newfoundland and Labrador, April 24, 2024 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX-V: PNG, OTCQB: KRKNF) announces that effective April 23, Peter A. Hunter has been appointed Chairman of the Company's Board of Directors. Mr. Hunter joined Kraken's Board in November of 2023 and 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 has over 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 has subsea technology expertise, 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).

Greg Reid, Kraken's President and CEO and Director noted, "We are pleased to see Peter take on the Chairmanship of the Kraken Board of Directors. In his short time on the Kraken Board, Peter has added very valuable experience and perspective. The senior management team looks forward to working closely with Peter and the Board to take the company to the next level."

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:
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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, Marketing
[email protected]

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

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

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