Kraken Robotics Inc. Announces $100 Million Bought Deal Public Offering of Common Shares

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Not for distribution to United States newswire services or dissemination in the United States

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ST. JOHN’S, Newfoundland, June 17, 2025 (GLOBE NEWSWIRE) — Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX.V: PNG, OTCQB: KRKNF) announces that it has entered into an agreement with Desjardins Capital Markets, as sole lead underwriter and sole bookrunner, on behalf of syndicate of underwriters (the “Underwriters“) pursuant to which the Underwriters have agreed to purchase 37,600,000 common shares (the “Common Shares“) from the treasury of the Company, at a price of $2.66 per Common Share (the “Offering Price“) for total gross proceeds of $100,016,000 (the “Offering“). The Company has granted the Underwriters an option (the “Over-Allotment Option“) to purchase up to an additional 15.0% of the Common Shares of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.

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Kraken expects the net proceeds of the Offering will be used to support the Company’s transition into a scalable global prime contractor, including: (1) enhancing the ability to consider larger accretive acquisitions particularly in the US and EU given the Company’s strengthened global profile (2) demonstrating a stronger balance sheet when bidding for larger governmental and commercial contracts and (3) for general corporate purposes.

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Closing of the Offering is expected to occur on or about July 7, 2025 and is subject to regulatory approval including that of the TSX Venture Exchange.

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The Common Shares to be issued under the Offering will be offered by way of a short form prospectus in each of the Provinces of Canada, except Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

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This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

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ABOUT KRAKEN ROBOTICS INC.

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Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans –safely, efficiently, and sustainably. Kraken’s synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide.

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