SOURCE: Kraken Sonar Systems Inc.

Kraken Sonar Systems Inc.

November 17, 2016 06:30 ET

Technology and IP Industry Veteran Joining Kraken's Board of Directors

New Director Brings Extensive Corporate Financing, M&A, and IP experience

ST. JOHN'S, NL--(Marketwired - November 17, 2016) - Kraken Sonar Inc. (TSX VENTURE: PNG) is pleased to announce that Mr. Shaun McEwan, CPA, CA is joining the Company's Board of Directors, effective December 1, 2016.

For the last 8 years, Mr. McEwan has been the Chief Financial Officer of WiLAN (TSX), an industry leading intellectual property (IP) licensing company. Mr. McEwan has more than 20 years of experience in finance and executive leadership in public and private high tech companies. He was the CFO of Breconridge Manufacturing Solutions, and the CFO of Calian Technologies Ltd. before being promoted to President and CEO. He led the IPO of Microstar Software on the TSX in 1993 and has extensive experience with corporate financings and M&A transactions.

"I'm excited to join Kraken as the market for underwater robotics is on a strong growth curve," said Mr. Shaun McEwan. "Karl and his team have put together an impressive array of products, partnerships, and talent and I believe they are ready to see significant growth in 2017 and beyond. I look forward to contributing to the ongoing development of the Company's Sensors-to-Systems strategy."

"We are very pleased to have Shaun join our Board," said Karl Kenny, Kraken's President and CEO. "He has achieved significant success in his career as a technology industry executive. His finance, M&A, and intellectual property experience will be a tremendous asset as we build and expand our underwater robotics business."

ABOUT KRAKEN SONAR INC.
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's products are sold to leading defence contractors, commercial survey companies and research institutions for acquiring real-time, ultra-high resolution imagery and data. For more information, please visit www.krakensonar.com.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (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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