August 3, 2016

ST. JOHN’S, NEWFOUNDLAND – AUGUST 3, 2016— Kraken Sonar Inc. (TSX-V: PNG) announced that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has again been named by Marine Technology Reporter to the MTR 100 – a list of the 100 most influential companies in the international marine technology marketplace.

This is the fourth year in a row that Kraken has been selected for the list.

Marine Technology Reporter is the world’s largest audited circulation magazine to cover the marine technology market. Each year the magazine evaluates and ranks marine technology companies worldwide to create the MTR 100 list.

In the July/August 2016 issue, Kraken and other companies are profiled as the leading companies serving today’s global marine technology industry. The issue is available for viewing online at:

http://www.marinetechnologynews.com/magazine/issue/201607

Karl Kenny, President and CEO of Kraken said, “It´s a real honour to receive this type of recognition and we want to share it with our investors, our customers and all our supporters. This is further testament to Kraken’s objective of becoming a leader in the Unmanned Maritime Systems industry. We’re proud to receive such prestigious distinction and extend our sincere appreciation to the editors and staff at Marine Technology Reporter for this wonderful recognition.”

ABOUT KRAKEN SONAR INC.

Kraken Sonar Inc. (TSX.V:PNG) is an industrial technology company, founded in 2012, that is dedicated to the production and sale of Synthetic Aperture Sonar, sensors and underwater robotics. The Company’s products are sold to leading defence contractors, commercial survey companies and research institutions for producing real-time, ultra-high resolution imagery and bathymetry of the seabed. For more information, please visit www.krakensonar.com.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Sean Peasgood, Investor Relations

(416) 565-2805

sean@sophiccapital.com
Greg Reid, Chief Financial Officer

(416) 818-9822

greid@krakensonar.com
Glenda Leyte, Marketing Manager

(709) 757-5757 extension 288

gleyte@krakensonar.com

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