Kraken Robotics holds 2026 annual and special meeting
ST. JOHN’S, Newfoundland and Labrador, June 24, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) is pleased to announce the results from its annual and special meeting of shareholders (the “Meeting”) held on June 24, 2026 at 1:00 p.m. EST. A total of 133,635,867 common shares, representing approximately 43.50% of the Company’s issued and outstanding common shares, were represented in person or by proxy at the Meeting. All the matters put forward before the shareholders, as set out in the Company’s management information circular dated May 14, 2026 (the “Circular”), were approved by the shareholders. Detailed voting results are set out below.
All terms defined but not used herein have the meanings given to them in the Circular. Number of Directors : The number of directors of the Company was fixed at seven (7) directors. Election of Directors: Each of the following seven nominees were elected as directors of the Company to hold office until the next annual meeting of shareholders of the Company or until their successors are duly elected or appointed.
Auditor : Shareholders approved the reappointment of Ernst & Young LLP as the Company’s auditor for the ensuing year and authorized the directors of the Company to fix the auditor’s remuneration. New Omnibus Incentive Plan: Shareholders approved the adoption of the Company’s new omnibus incentive plan, as more particularly described in the Circular. The omnibus incentive plan replaces the Company’s existing Stock Option Plan and RSU plan, and permits the issuance of options, restricted share units (RSUs), performance share units (PSUs), and deferred share units (DSUs).
The omnibus incentive plan is a “rolling” equity incentive plan reserving for issuance up to 10% of the Company’s issued and outstanding common shares from time to time, and provides for the grant of stock options, RSUs, PSUs and DSUs. The omnibus incentive plan remains subject to final TSX Venture Exchange (“TSXV”) approval. Amended & Restated By-Law : On May 10, 2026, the board of directors (the “Board”) approved the repeal of the previous by-laws and the adoption of the New By-Law No. 1, with such repeal and adoption to be effective as of the date of the approval by the shareholders of the New By-Law No. 1.
The Company’s prior by-law had been in place since 2015 and so the Board determined that it was in the best interests of the Company to adopt New By-Law No. 1 to reflect evolving practices. The New By-Law No.1 is standard in its form and governs all aspects of the business and affairs of the Company, such as the introduction of an advance notice requirement for nominations of directors, the establishment of a quorum for meetings of directors and shareholders, the conduct of such meeting, signing authorities, the appointment of officers, the authority of persons to contract on behalf of the Company and similar matters. Shareholders confirmed the Company’s amended and restated by-law, which became effective upon approval by shareholders at the Meeting.
The New By-Law No. 1 remains subject to final TSXV approval. For more information on all of the matters voted on at the Meeting, including the new Omnibus Incentive Plan and the New By-Law No.1, please refer to the Circular, filed on the Company’s profile on SEDAR+ at www.sedarplus.ca . ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. 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. On March 3, 2026, Kraken announced the acquisition of Covelya Group (the “Covelya Acquisition”), a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Limited, EIVA A/S, Forcys Limited, Wavefront Systems Limited, Voyis Imaging Inc., and Chelsea Technologies Ltd. The Covelya Acquisition is expected to close on or about July 2, 2026, subject to the satisfaction of customary conditions and regulatory approvals. LINKS: www.krakenrobotics.com SOCIAL MEDIA: LinkedIn www.linkedin.com/company/krakenrobotics Twitter www.twitter.com/krakenrobotics Facebook www.facebook.com/krakenroboticsinc YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A Instagram www.instagram.com/krakenrobotics FORWARD LOOKING STATEMENTS This news release contains statements that constitute “forward-looking information” as defined under applicable Canadian securities laws (collectively, “forward-looking statements”).
When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: the closing of the Covelya Acquisition, and timing thereof; business objectives; and expected growth of the Company. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions, ability to complete the Covelya Acquisition, macroeconomic uncertainties and other factors set out in the Company's continuous disclosure materials filed from time to time with the Canadian Securities Administrators, including the Company's most recent annual information form under the section entitled “Risk Factors”, quarterly and annual reports, and supplementary information, which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca .
Additional risks and uncertainties not presently known to the Company or that Kraken believes to be less significant may also adversely affect the Company. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and accordingly, forward-looking statements should not be unduly relied upon. Forward-looking statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Global Marketing erica.hasenfus@krakenrobotics.com Shant Madian, Director of Capital Markets shant.madian@krakenrobotics.com Kraken Robotics Inc. +1 709-757-5757 or investors@krakenrobotics.com Globe Newswire June 24, 2026 - 1:30 PM PDT News by QuoteMedia www.quotemedia.com