ST. JOHN’S,
The Offering was completed by a syndicate of underwriters led by
The Offering was made by way of a prospectus supplement dated
Among other uses as described in the Prospectus Supplement, the Company expects to use the net proceeds from the Offering to fund a portion of the consideration for the acquisition of
The Company has granted the Underwriters an option (the “Over-Allotment Option”) to cover overallotments and for market stabilization purposes, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering, to purchase up to an additional 3,000,000 Units on the same terms and conditions of the Offering, for additional gross proceeds of up to
The Units, and the Common Shares and Warrants comprising the Units, have not been and will not be registered under the United States Securities Act of 1933, as amended (the “
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 the Units in
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ABOUT
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, statements relating to the Offering, including the use of proceeds of the Offering. 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, the ability of the Company to satisfy all closing conditions of the acquisition of PanGeo; the ability to integrate the operations of PanGeo into Kraken’s Robotics and Data as a Service business model; the positive reception of the acquisition of PanGeo by Kraken’s target market for sub-seabed acoustic imaging; changes in market; competition; governmental or regulatory developments; the ability of Kraken to obtain final approval of the TSXV on a timely basis, or at all; that the Company’s use of proceeds of the Offering may differ from those indicated; additional financing requirements, 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
For further information, please contact:
(416) 303-0605
jmackay@krakenrobotics.com
(416) 818-9822
greid@krakenrobotics.com
(647) 955-1274
sean@sophiccapital.com
Source:
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