SOURCE: Kraken Sonar Inc.

Kraken Sonar Inc.

June 06, 2017 07:00 ET

Kraken's AquaPix® to Be Deployed in Mine Warfare Exercise

Kraken to Support AquaPix® on Three Different Unmanned Maritime Platforms

ST. JOHN'S, NL--(Marketwired - June 06, 2017) - Kraken Sonar Inc. (TSX VENTURE: PNG) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. will be supporting its AquaPix® sonar system on three different unmanned maritime platforms during an upcoming mine warfare exercise to be conducted by the Belgium and Netherland navies.

Belgium is joining the Netherlands in a naval acquisition that will see both countries replace their Tripartite-class minehunting ships. The Tripartite minehunters were conceived in the 1970s and built in the 1980s and are currently in use by the navies of Belgium, the Netherlands and France; as well as Pakistan, Indonesia, Latvia, and Bulgaria. Under the new acquisition, Belgium and the Netherlands will get six new mine warfare ships. In addition to the new minehunters, both navies plan to renew their mine countermeasures capability with unmanned systems, enabling better operational performance and increasing personnel safety.

In mid June 2017, the Directorate General of Material Resources (DGMR) of the Belgian Defence will organize mine countermeasures trials with a variety of unmanned systems operating off the Belgian coast. The trials will be conducted by different types of unmanned underwater and surface vehicles and will be presented by leading defence contractors from several different countries. Kraken engineers will be supporting the deployment its AquaPix® Synthetic Aperture Sonar on unmanned systems from three different defence contractors. Information on the exercise can be found at: http://www.mil.be/sites/mil.be/files/files_library/livre_complet.pdf

Karl Kenny, Kraken President & CEO said, "We are pleased to provide support for our AquaPix® sonar on unmanned platforms from three different customers for this exercise. During the trials, our engineers will be at sea supporting both our AquaPix® INSAS and AquaPix® MINSAS systems. The Belgian and Netherlands' navies project to replace their MCM capabilities creates a significant opportunity for Kraken's sensors and underwater robotic systems. This project provides guidelines for future mine countermeasures capability and opens the possibility for other countries to join the Belgian-Netherlands initiative."

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.

Contact Information