SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

April 21, 2015 12:21 ET

Kraken Sonar Receives Order From Leading Defence Contractor

New Orders Exceed $1.2 Million in Past 60 Days

ST. JOHN'S, NL--(Marketwired - April 21, 2015) - Kraken Sonar Inc. (TSX VENTURE: PNG) is very pleased to announce that its wholly-owned subsidiary, Kraken Sonar Systems Inc., has received an order for its AquaPix® Synthetic Aperture Sonar system from a major international defence contractor. (Due to the sensitivity of its business, the client name cannot be disclosed.)

AquaPix® is an industry leading sonar system providing military grade technology that provides superior 3D seabed imaging, faster data processing and a lower cost than existing technology. Over the past 60 days Kraken has received orders exceeding $1.2 million with deliveries expected in the current financial quarter.

"AquaPix® is a game changer for seabed mapping," said Kraken President and Chief Executive Officer Karl Kenny. "Demand for our AquaPix® systems by some of the most influential companies in underwater defence validates the technology, enhance our corporate image and open new opportunities in the other market sectors we serve."

AquaPix® utilizes military-proven SAS algorithms and robust design, providing a complete sonar solution for applications that include naval mine countermeasures, hydrographic survey and subsea surveillance of strategic assets.

Discover more: images and information available at krakensonar.com

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 survey companies and research institutions for producing real-time, ultra high resolution imagery and bathymetry 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:

    David Bajwa
    IR & Corporate Communications
    Telephone: 604 284-5561
    Email: info@krakensonar.com