Mr. Karl Kenny reports

KRAKEN SONAR RECEIVES ORDER FROM LEADING DEFENCE CONTRACTOR

Kraken Sonar Inc.'s wholly owned subsidiary, Kraken Sonar Systems Inc., has received an order for its AquaPix synthetic aperture sonar system from a major international defence contractor. (Due to the sensitivity of its business, the client name cannot be disclosed.)

AquaPix is an industry-leading sonar system providing military-grade technology that provides superior 3-D seabed imaging, faster data processing and a lower cost than existing technology. Over the past 60 days, Kraken has received orders exceeding $1.2-million, with deliveries expected in the current financial quarter.

"AquaPix is a game changer for seabed mapping," said Kraken president and chief executive officer Karl Kenny. "Demand for our AquaPix systems by some of the most influential companies in underwater defence validates the technology, enhance our corporate image and open new opportunities in the other market sectors we serve."

AquaPix utilizes military-proven SAS algorithms and robust design, providing a complete sonar solution for applications that include naval mine countermeasures, hydrographic survey and subsea surveillance of strategic assets.