ST. JOHN'S, NL--(Marketwired - April 09, 2015) - Kraken Sonar Inc. ("Kraken" or the "Company") (
Mr. Bajwa brings over 20 years' of experience providing investor relations services to micro-cap technology issuers. Identification, analysis and engagement with capital markets participants to develop on-going relationships that represent the closest match within their investment thesis are the hallmarks of Mr. Bajwa's approach, providing the opportunity for efficient access to capital while supporting corporate value.
Under the terms of the Agreement and subject to regulatory approval, the Company's Board of Directors have approved an incentive stock options grant to Mr. Bajwa of 200,000 options at an exercise price of $0.25 per share for a period of 3 years. Vesting details of the options grant includes 175,000 share options that will vest over the next 24 months and 25,000 share options to be deemed vested immediately. The Agreement is for a term of two years and either party can terminate the agreement by providing 30 days' written notice.
Kraken also wishes to thank Flora Wood, who served the Company in an Investor Relations and Communications role through its going public transaction, and is departing in mid-April for another opportunity. Flora's guidance and strategic introductions during this formative period were valuable, and established a framework that will be further developed under Mr. Bajwa's leadership.
ABOUT KRAKEN SONAR INC.
Kraken Sonar Inc. (
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
For further information, please contact:
Karl Kenny
President & CEO
Telephone: 709-757-5757 ext. 288
Email: info@krakensonar.com
David Bajwa
Investor Relations
Telephone: 604 284-5561
Email: dbajwa@krakensonar.com