MOUNT PEARL, NL, Jan. 3, 2023 /CNW/ – Karl Kenny, Executive Chairman of Krakenrob Robotics Inc. (“Kraken“), announces that he has completed a series of dispositions of common shares in the capital of Kraken (the “Common Shares“).
Between August 18, 2022 and December 9, 2022, Mr. Kenny disposed of an aggregate of 4,000,000 Common Shares as follows: (i) 3,000,000 Common Shares on August 18, 2022, pursuant to the terms of a private option dated August 14, 2017, granted to an officer of Kraken at an exercise price of $0.18 per Common Share; and (ii) an aggregate of 1,000,000 Common Shares through the facilities of the TSX Venture Exchange between December 7 and December 9, 2022, at an average price of $0.59 per Common Share for aggregate proceeds of $1,123,690 (the “Dispositions“).tec
Immediately prior to the Dispositions, Mr. Kenny held beneficial ownership of, or control or direction over, 24,060,049 Common Shares, representing 11.96% of the issued and outstanding Common Shares at the time, on a non-diluted basis. As a result of the Dispositions, Mr. Kenny now beneficially owns or controls an aggregate of 20,060,049 Common Shares, representing approximately 9.95% of the issued and outstanding Common Shares on a non-diluted basis and 10.3% on a partially-diluted basis (based on 201,524,235 Common Shares issued and outstanding). The resulting change in Mr. Kenny’s share ownership position was greater than 2% from Mr. Kenny’s last early warning report that was filed on August 9, 2022 in which Mr. Kenny reported the beneficial ownership of 11.96% of the then-issued and outstanding common shares on a non-diluted basis.
Mr. Kenny does not presently intend to make further divestitures or investments in Kraken, but may from time to time in the future increase or decrease his ownership, control or direction over securities of Kraken through market transactions, private agreements, or otherwise.
Mr. Kenny has filed an early warning report under Kraken’s profile on SEDAR (www.sedar.com) in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
SOURCE Karl Kenny
Cision
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