Kraken Sonar Welcomes New Board Member

Kraken Sonar has added Larry Puddister to the company’s board of directors.

Puddister is co- chairman of Pennecon Limited, and also a majority shareholder and CEO of Newcrete.

Karl Kenny, Kraken’s president and CEO, said: “We are delighted to welcome Larry to the Kraken Board of Directors. His extensive experience, keen instincts, and global industry connections should prove to be very beneficial for Kraken’s business pursuits for underwater robotic applications in marine construction, offshore oil and gas, and the ocean renewable energy sectors.”

“The global underwater robotics market is poised for substantial growth across military, commercial, and research sectors, and Kraken is well positioned to service these growing sectors,” said Puddister. “I look forward to contributing to the ongoing development of the Company’s Sensors-to-Systems strategy, and feel very positive about Kraken’s future, not only as a member of the Board of Directors, but also as an investor.” Mr. Puddister acquired 1.5 million Kraken shares in the Spring of this year.”

Kraken also announced that Roman Kocur has tendered his resignation in good standing from Kraken’s board of directors.