Kraken Energy Completes Acquisition of Major Land Package Surrounding the Apex Uranium Project

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Vancouver, British Columbia–(Newsfile Corp. – May 30, 2022) – Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF ) (the " Company " or " Kraken ") is pleased to announce that, further to its news release dated May 25, 2022, it has completed the acquisition (the " Acquisition ") of all the issued and outstanding securities of Panerai Capital Corp. (" Panerai ") pursuant to the terms of a share exchange agreement dated May 24, 2022 (the " Definitive Agreement ") between the Company, Panerai and the shareholders of Panerai.

In connection with the Acquisition, the Company issued an aggregate of 11,709,666 common shares in the capital of the Company (the " Payment Shares ") pro rata to the Panerai shareholders at a deemed price of $1.09 per Payment […]

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