ST. JOHN'S, NL--(Marketwired - September 01, 2015) - Kraken Sonar Inc. (
CEO Comments
"While our quarterly results can be lumpy given the timing of new orders, we believe we have set the stage for a breakout next 12 months," stated Karl Kenny, CEO of Kraken. "We are proud of our ability to attract world-class sonar industry talent along with a growing list of Tier 1 customers and partners. This quarter saw the signing of our first distribution partnership with an established global marine technology company, and we are working diligently towards other key partnerships which we hope to execute in the near term." Mr. Kenny added: "Our pipeline of opportunities has expanded significantly as we have moved from an R&D company to a leading provider of SAS technology."
Business Highlights
Notable business developments and achievements during the quarter and up to the reporting date included the following:
Financial Highlights
ABOUT KRAKEN SONAR INC.
Kraken Sonar Inc. (
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.
Contact Information:
For further information, please contact:
Greg Reid
Chief Financial Officer
(416) 818-9822
greid@krakensonar.com
Sean Peasgood
Investor Relations
(416) 565-2805
sean@sophiccapital.com
Glenda Leyte
Marketing Manager
(709) 757-5757 extension 288
gleyte@krakensonar.com