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Kraken Announces Appointment of David Shea as Chief Technology Officer

ST. JOHN'S, Newfoundland, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), today announced that David Shea, Executive Vice President (EVP) of Products, will take on the additional role of Kraken's Chief Technology Officer (CTO). Mr. Shea joined Kraken more than 10 years ago at its inception, and has been directing Kraken's engineering, product development, and R&D in a variety of roles, first as Kraken's Senior Vice President of Engineering and subsequently as EVP, Products.

"I am excited to continue my work with Kraken in providing technical leadership, strategy, and vision as our company evolves into its next phase of growth," says Mr. Shea. "Over the past ten years, we have assembled a talented global team of world-class engineers, scientists, technicians, and technologists who are developing and delivering some of the most advanced subsea imaging solutions in the world. From high-resolution seabed mapping solutions operating in the harshest environments on earth, to subsea energy systems that power exploration of the deepest parts of our oceans, Kraken's technology is tested and validated by our customers in real-world conditions every day. I look forward to working in close collaboration with Kraken's new President and CEO, Greg Reid, and the rest of our executive team as we deliver the future of subsea mapping solutions to protect and power the underwater domain."

Greg Reid, President and CEO of Kraken said, "I am happy that we are able to provide recognition for one of the many important roles that David plays within our organization. His expertise in ocean technology, experience in product development, and leadership of our engineering teams provides valuable support to Kraken in continuing our mission of developing unique subsea intelligence solutions for clients to overcome the challenges in our oceans - safely, efficiently, and sustainably. We are excited for David to continue to lead the execution of Kraken's cutting-edge technology and product development."



Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries, and underwater robotic systems. It provides high-resolution 3D acoustic imaging solutions and services to enable clients to overcome the challenges in our oceans - safely, efficiently, and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.

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, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. 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, changes in market, competition, governmental or regulatory developments, 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 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, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Stephen Griffin, Group Marketing Manager

Joe MacKay, Chief Financial Officer
(416) 303-0605

Greg Reid, President & CEO
(416) 818-9822

Sean Peasgood, Investor Relations
(647) 955-1274

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