Kraken Sonar Inc. Starts Trading Today: (TSX VENTURE: PNG)
February 24, 2015 – St. John’s, Newfoundland – Kraken Sonar Inc. (TSXVENTURE: PNG) (formerly Anergy Capital Inc.) (the “Company”, “Kraken” or “We”) is pleased to announce the start of trading today at the opening of the TSX Venture Exchange, following the previously announced acquisition of all of the issued and outstanding shares of Kraken Sonar Systems Inc., constituting the qualifying transaction of the Company, and subsequent name change. Kraken was founded in 2012 with the objective of commercializing a software-centric version of Synthetic Aperture Sonar (SAS) technology, to compete with more hardware-dependent and expensive SAS solutions. These legacy SAS systems were seen as the domain of global defence contractors using SAS for military surveillance purposes to detect seabed mines or other types of unexploded ordnances. SAS is the next generation of sonar, following side scan sonar and multi-beam echo sounders, which while capable of producing high resolution images of objects on the seabed,…
Kraken Sonar Inc. Announces Closing of Qualifying Transaction and Resumption of Trading
(formerly Anergy Capital Inc.) KRAKEN SONAR INC. ANNOUNCES CLOSING OF QUALIFYING TRANSACTION AND RESUMPTION OF TRADING February 18, 2015 – ST JOHN’S, NEWFOUNDLAND – Kraken Sonar Inc. (TSX-V: ACA.H) (formerly Anergy Capital Inc.)(the “Company”) is pleased to announce that it has completed its previously announced acquisition (the “Acquisition”) of all of the issued and outstanding shares of Kraken Sonar Systems Inc. (“Kraken”), constituting the qualifying transaction of the Company pursuant to the policies of the TSX Venture Exchange (the “Exchange”). As a consequence of the Acquisition, the Company will carry on the business of Kraken. The Company’s common shares are expected to resume trading on Tuesday, February 24, 2015, on the Exchange under the ticker symbol “PNG” after the Exchange’s conditions for listing are satisfied and the Exchange issues its final exchange bulletin confirming the completion of the Acquisition. In connection with the closing of the Acquisition, the Company completed a…
