SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

August 09, 2017 07:00 ET

Kraken Named To Marine Technology Top 100

ST. JOHN'S, NL--(Marketwired - August 09, 2017) - Kraken Sonar Inc. (TSX VENTURE: PNG) (OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has again been named by Marine Technology Reporter to the MTR100 2017 -- a list of the 100 most influential companies in the international marine technology marketplace. This is the fifth year in a row that Kraken has been selected.

In addition to being named to the MTR 100, Kraken was listed as one of the top 17 Technology Disruptors in the marine technology industry for its Robotics as a Service business model.

Gregory Trauthwein, Associate Publisher & Editor of Marine Technology Reporter said, "True innovation has been the hallmark of the MTR100 since we launched it in 2006, and it remains at the core today in our presentation of the 12th Annual MTR100. This year we saw another record number of applicants from around the globe for inclusion in our annual innovation showcase. This year's MTR100 features technologies from 13 countries and four continents."

Karl Kenny, President and CEO of Kraken said, "It's an absolute honour to receive this type of recognition as it represents an important validation of the hard work by the extraordinary team at Kraken. We want to share it with our investors, our customers and all our supporters as further testament to Kraken's objective of becoming a leader in the underwater robotics industry. We extend our appreciation to the editors and staff at Marine Technology Reporter for this recognition."

ABOUT Marine Technology Reporter

Marine Technology Reporter is the world's largest audited circulation magazine to cover the marine technology market. Each year the magazine evaluates and ranks marine technology companies worldwide to create the MTR 100 list.

In the July/August 2017 issue, Kraken and other companies are profiled as the leading companies serving today's global marine technology industry. The issue is available for viewing online at:
https://www.marinetechnologynews.com/magazine/issue/201707

ABOUT KRAKEN

Kraken Sonar Inc. (TSX VENTURE: PNG) is a marine technology company, founded in 2012, that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John's, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. For more information, please visit www.krakensonar.com, www.krakenrobotik.de, www.krakenpower.de.

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.

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