SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

September 20, 2016 18:30 ET

Kraken Reports Change of Director

ST. JOHN'S, NL--(Marketwired - September 20, 2016) - Kraken Sonar Inc. (TSX VENTURE: PNG) announced that Harley Sinclair has tendered his resignation in good standing from Kraken's Board of Directors with immediate effect. Mr. Sinclair was the CEO of Anergy Capital which acquired Kraken Sonar Systems Inc. as its CPC Qualifying Transaction in February 2015.

Mr. Sinclair said, "When I stepped down as CEO of Anergy, I remained as a director of Kraken in order to facilitate the transition of the company, to represent the company's pre-QT shareholders, and to assist the company generally. It is time for me to move on. As a significant shareholder, I have nothing but good wishes for the Company. Thanks to everyone for having me as a member of your team and as a friend."

Karl Kenny, Kraken's President and CEO, said, "I wish to thank Harley for his valuable assistance and contribution over our last 18 months as a public company. We continue to evolve our "sensors-to-systems" strategy with the objective of becoming a leader in unmanned maritime systems and underwater robotics. We have several highly qualified Board candidates with industry experience that we are now in discussions with. We hope to announce their addition to the Kraken Board of Directors in the very near future. "

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), acoustic sensors and underwater systems. The Company's products are sold to leading defence contractors, commercial survey companies and research institutions for producing real-time, ultra-high resolution imagery and bathymetry of the seabed. 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.

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