Kraken Robotics Inc. (“Kraken” or the “Company”) (TSXV: PNG, OTCQB: KRKNF) is pleased to announce today that it has closed its previously announced “bought deal” short form prospectus offering (the “Offering”) of common shares of the Company (“Common Shares”). A total of 32,343,750 Common Shares were sold at a price of $1.60 per Common Share for gross proceeds of $51,750,000, inclusive of the full exercise of the over-allotment option by the Underwriters (as defined below).
The Offering was led by Cormark Securities Inc. as lead underwriter, on behalf of a syndicate of underwriters including Canaccord Genuity Corp., Beacon Securities Limited, Raymond James Ltd., and Scotia Capital Inc. (the “Underwriters”). The Underwriters received a cash commission equal to 5.0% of the gross proceeds of the Offering, which is $2,587,500.
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