Kraken Robotics Inc (KRKNF)

[The_Gman]

$0.5 Million Contract from Canadian Department of Defense

ST. JOHN’S, NEWFOUNDLAND – 26 NOVEMBER 2018/GLOBE NEWSWIRE/ – Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF), is pleased to announce that as disclosed on www.buyandsell.gc.ca, Public Works and Government Services Canada, has issued a contract valued at $468,000 to Kraken Robotic Systems Inc. The end user is the Canadian Department of National Defense (DND). Under the contract, Kraken will provide testing, repairs, integration and upgrading of an AquaPix® INSAS sensor originally sold to DND for integration on the Artic Explorer Autonomous Underwater Vehicle in 2014.

Early Exercise of Warrants

Kraken is also pleased to announce that since quarter end (September 30,2018), it has received almost $0.6 million in cash from the early exercise of approximately 2.1 million warrants set to expire in April 2019. To date, Kraken has received $835,666 in cash from the early exercise of 2,785,553 warrants which had an exercise price of $0.30 and were set to expire in April 2019. There remains approximately 3.1 million warrants with the same terms, which would generate another $0.9 million in cash for the Company if exercised.


http://krakenrobotics.com/kraken-announces-0-5-million-contract-from-canadian-department-of-defense/