Corporate Name Change for Kraken Sonar Inc $PNG

Kraken Sonar Inc

Kraken Sonar Inc. (TSX VENTURE: PNG) (OTCQB: KRKNF) is pleased to announce that it has changed its name from Kraken Sonar Inc. to Kraken Robotics Inc. and that effective Friday, September 22, 2017, it will begin trading under its new name. The Company’s stock symbols will remain the same. The Company’s Canadian operating subsidiary, Kraken Sonar Systems Inc. has been renamed Kraken Robotics Systems Inc.

While the public company name and Canadian operating subsidiary names will have changed, there has been no change to the Company’s ownership or corporate address. The name change is intended to reflect Kraken’s continued growth as it evolves from manufacturing sensors to supplying complete robotic systems, software and services in the global Unmanned Maritime Systems market (UMS).

“Our new name reflects the Company’s broader commitment and expertise in driving the innovations needed to shape the future of unmanned maritime systems. We expect that the UMS market will soon evolve from research, develop and testing programs into significantly larger procurement opportunities for Kraken.”

-Karl Kenny, Kraken President and CEO