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Kraken Signs Definitive Agreement to Acquire PanGeo and Announces Public Offering of Units
Kraken Signs Definitive Agreement to Acquire PanGeo and Announces Public Offering of Unit...
About this update from Kraken Robotics Inc
[{"type":"text","content":"\n \n \n \n Kraken Signs Definitive Agreement to Acquire PanGeo and Announces Public Offering of Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ST. JOHN'S, NL\n \n ,\n \n July 20, 2021\n \n /CNW/ - Kraken Robotics Inc. (\"\n \n Kraken\n \n \" or the \"\n \n Company\n \n \") (TSXV: PNG) (OTCQB: KRKNF),\n \n Canada's\n \n Ocean Company, is pleased to announce that it has signed a definitive share purchase agreement (the \"\n \n PanGeo Agreement\n \n \") whereby Kraken Robotics Systems Inc., a wholly-owned subsidiary of Kraken, will acquire all of the issued share capital of PGH Capital Inc. (\"\n \n PGH Capital\n \n \") on substantially similar terms to those set out in the non-binding letter of intent dated\n \n April 8, 2021\n \n , and disclosed in the Company's press release dated\n \n April 9, 2021\n \n (the \"\n \n PanGeo Transaction\n \n \"). PGH Capital operates its business through its subsidiaries, PanGeo Subsea Inc. and PanGeo Subsea Scotland Limited (collectively with PGH Capital, \"\n \n PanGeo\n \n \"). PanGeo is a private Canadian services company specializing in high-resolution 3D acoustic imaging solutions for the sub-seabed with offices in\n \n St. John's, Newfoundland\n \n and\n \n Aberdeen, United Kingdom\n \n . PanGeo's assets consist primarily of human capital, know-how and equipment comprised mostly of sub bottom imaging units and acoustic imaging units that are used to provide sub-seabed survey services.\n \n \n The Company is also pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"\n \n Underwriters\n \n \"), under which the Underwriters have agreed to buy on a bought deal basis 20,000,000 units (the \"\n \n Units\n \n \") at a price of...