Kraken Obtains Receipt for Final Base Shelf Prospectus
Not for distribution to U.S. news wire services or dissemination in the United States.
ST. JOHN’S, Newfoundland, April 07, 2021 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), Canada’s Ocean Company, announced it has filed a final short form base shelf prospectus (the "Base Shelf Prospectus") with securities regulatory authorities in each of the provinces and territories of Canada.
The Base Shelf Prospectus allows the Company to qualify the distribution by way of prospectus of up to $65 million of common shares, debt securities, subscription receipts, warrants and units (all of the foregoing, collectively, the “Securities”) or any combination thereof, during the 25-month period that the Base Shelf Prospectus remains effective. The specific terms of any offering of Securities will be set forth in a prospectus supplement to the Base Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.
Karl Kenny, CEO of Kraken stated: "Filing this base shelf prospectus will provide us with financial flexibility in connection with our continued growth and will permit us to act more quickly to take advantage of any future opportunities that may arise.”
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
A copy of the Base Shelf Prospectus can be found on SEDAR at www.sedar.com.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries and thrusters, and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Toronto, Ontario; Bremen & Rostock, Germany; Copenhagen, Denmark; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on LinkedIn (Kraken Robotics), Twitter (@krakenrobotics), Facebook (@krakenroboticsinc), YouTube (Kraken Robotics) and Instagram (@KrakenRobotics).