The TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement dated March 3, 2026, between the company, its subsidiary, Kraken Robotic Systems Inc., and an arm's-length party, whereby the company has acquired all of the issued and outstanding shares of Covelya Group Ltd., a leading international provider of mission-critical underwater technology solutions.

Under the terms of the share purchase agreement, the aggregate purchase price of approximately $615-million, prior to closing adjustments, was satisfied via:

• Approximately $480-million cash payment;
• Approximately $135-million through the issuance of 15,882,352 common shares at deemed price of $8.50 per share.

For more information, please refer to the company's news releases dated March 3, 2026, March 12, 2026, June 18, 2026, and July 2, 2026.