Kraken Robotics Appoints Chief Operating Officer and Hires Marketing Director
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ST. JOHN'S, Newfoundland and Labrador, July 10, 2024 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces that effective July 9, Nathaniel Spencer has been appointed Chief Operating Officer of Kraken. Mr. Spencer joined Kraken in August 2021 with the acquisition of PanGeo Subsea, where he was the Vice President of Service Delivery. For the last 18 months, Nat has been the Managing Director of Kraken’s subsea power business. Nat has over 12 years in the marine sector, including founding a subsea inspection business that was sold to Oceaneering in 2016.
Greg Reid, Kraken’s President and CEO noted, “I am pleased to promote Nat to the COO role after 3 years at Kraken. Nat’s strength is in driving operational performance, by building strong teams, setting goals, and effectively monitoring and communicating both up and down an organization. He is very process driven and brings a sense of urgency and solid business sense to matters at Kraken. Combined with the rest of our Executive Management team that includes Joe MacKay (CFO), Dave Shea (CTO), and Lynne Adu (CCO) our organization is now well structured to handle strong organic growth and to integrate selective acquisitions that add additional technology, customers, and profitability to our business.
Kraken is also pleased to announce that Erica Kierstead has joined as Director of Global Marketing. Based in Boston, Erica spent 2 years at MITRE in marketing and communications most recently focused on the AI and Bluetech sectors, and prior to that spent 9 years at Hydroid and then HII in marketing. With over 10 years of experience in ocean technology and the defense industries, Erica is a welcome addition to lead Kraken’s marketing efforts.
Kraken also announces that its Board of Directors has approved the issuance of 5,990,000 stock options. The grant consists of 5,590,000 options to certain employees and 400,000 options to directors. These options have a seven-year term, with vesting in four equal instalments on the annual year anniversaries of the initial date of grant. The exercise price on the options is $1.14. With this option issuance, Kraken has options issued and outstanding totalling 5.0% of common shares outstanding.
ABOUT KRAKEN ROBOTICS INC.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Our high-resolution 3D acoustic imaging solutions and services 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.