Kraken Sonar Inc. has changed its name from Kraken Sonar Inc. to Kraken Robotics Inc., reflecting its evolution from manufacturing sensors to supplying complete robotic systems, software and services in the unmanned maritime systems (UMS) market.
The company will begin trading under its new name effective Friday, September 22; its stock symbols will remain the same: TSX-V: PNG and OTCQB: KRKNF. Kraken’s Canadian operating subsidiary, Kraken Sonar Systems Inc. has been renamed Kraken Robotics Systems Inc.
While the public company name and Canadian operating subsidiary names will have changed, there has been no change to the company's ownership or corporate address.
Karl Kenny, Kraken President and CEO said, "Our new name reflects the Company's broader commitment and expertise in driving the innovations needed to shape the future of unmanned maritime systems. We expect that the UMS market will soon evolve from research, develop and testing programs into significantly larger procurement opportunities for Kraken."