SOURCE: Kraken Sonar Systems Inc.

Kraken Sonar Systems Inc.

March 17, 2015 08:00 ET

Kraken Adds FirstService Corporation Executive Roman Kocur to Board of Directors

ST. JOHN'S, NL--(Marketwired - March 17, 2015) - Kraken Sonar Inc. (TSX VENTURE: PNG) ("the Company") is pleased to announce that Roman Kocur has joined the Board of Directors, effective immediately. Roman is a senior executive with FirstService Residential, a wholly owned subsidiary of FirstService Corporation. Since 2003, Roman has served in a variety of senior executive roles at FirstService Corporation in strategy, corporate development, M&A and operations. Prior to 2003, Roman spent five years at Geac Computer Corporation Limited, formerly one of the largest technology companies in Canada. Roman is a Chartered Accountant, and will chair Kraken's Audit Committee.

Kraken now has five directors, four of which are non-executive. Karl Kenny, President and CEO of the Company, commented, "Roman's appointment is valuable to us, both for his financial and M&A expertise, and for his years of experience with successful growth companies. We stand to benefit from his leadership of the Audit Committee, a key function in our current environment of increasing sales and cash flow generation."

ABOUT KRAKEN SONAR INC.
Kraken Sonar Inc. (TSX VENTURE: PNG) is an industrial technology company, founded in 2012, that is dedicated to the production and sale of software-centric Synthetic Aperture Sonar (SAS) technology. The Company's products have been sold to leading defence contractors, commercial companies and research institutions for producing real-time, high resolution imagery of the seabed. Marine Technology Reporter has twice named Kraken to their MTR100 -- a list of the 100 most influential companies in the international marine technology marketplace. For more information, please visit www.krakensonar.com

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.

Contact Information

  • For further information, please contact:

    Flora Wood
    IR & Corporate Communications
    Telephone: 709-757-5757 ext. 270
    Email: fwood@krakensonar.com