ST. JOHN’S, NEWFOUNDLAND – AUGUST 9, 2017— /Marketwired/ –  Kraken Sonar Inc. (TSX-V: PNG) (OTCQB: KRKNF) announced today that its wholly-owned subsidiary, Kraken Sonar Systems Inc. has again been named by Marine Technology Reporter to the MTR100 2017 – a list of the 100 most influential companies in the international marine technology marketplace. This is the fifth year in a row that Kraken has been selected.

In addition to being named to the MTR 100, Kraken was listed as one of the top 17 Technology Disruptors in the marine technology industry for its Robotics as a Service business model.

Gregory Trauthwein, Associate Publisher & Editor of Marine Technology Reporter said, “True innovation has been the hallmark of the MTR100 since we launched it in 2006, and it remains at the core today in our presentation of the 12th Annual MTR100. This year we saw another record number of applicants from around the globe for inclusion in our annual innovation showcase. This year’s MTR100 features technologies from 13 countries and four continents.”

Karl Kenny, President and CEO of Kraken said, “It’s an absolute honour to receive this type of recognitionas it represents an important validation of the hard work by the extraordinary team at Kraken. We want to share it with our investors, our customers and all our supporters as further testament to Kraken’s objective of becoming a leader in the underwater robotics industry. We extend our appreciation to the editors and staff at Marine Technology Reporter for this recognition.”

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 2017 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:

https://www.marinetechnologynews.com/magazine/issue/201707

ABOUT KRAKEN

Kraken Sonar Inc. (TSX.V:PNG) is a marine technology company, founded in 2012, that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. For more information, please visit www.krakensonar.com,www.krakenrobotik.de, www.krakenpower.de.

 

For further information, please contact:

Sean Peasgood, Investor Relations
(416) 565-2805
sean@sophiccapital.com

Stephen Harpur, Investor Relations
(604) 306-6142
skharpur@gmail.com

Greg Reid, Chief Financial Officer
(416) 818-9822
greid@krakensonar.com

Glenda Leyte, Marketing Manager
(709) 757-5757 extension 288
gleyte@krakensonar.com