Ocean Infinity Group, Limited Announces Acquisition of Common Shares in Kraken Robotics Inc.

Toronto, Ontario--(Newsfile Corp. - January 4, 2019) - Ocean Infinity Group, Limited (formerly Ocean Infinity, Limited) (the "Acquiror") has filed an early warning report (the "Early Warning Report") advising of its acquisition of common shares (the "Common Shares") of Kraken Robotics Inc. (TSXV:PNG) (OTCQB: KRKNF) (the "Company"). This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues by the Acquiror in connection with the acquisition of Common Shares of the Company.

On December 20, 2018, the Company completed a bought deal short form prospectus offering of Common Shares, wherein 15,000,000 Common Shares were sold at a price of $0.40 per Common Share, for gross proceeds to the Company of $6,000,000 (the "Offering"). The Acquiror purchased 2,500,000 Common Shares in the Offering at a price of $0.40 per Common Share for total consideration of $1,000,000, which increased the Acquiror's overall ownership interest in the Company to 11.33% of the outstanding Common Shares (the "Acquired Shares").

As set out in the Acquiror's prior early warning report dated July 24, 2018 the Acquiror had ownership and control over 11,520,000 Common Shares and 5,760,000 warrants of the Company (the "Warrants"), representing approximately 14.2% of the Company's issued and outstanding Common Shares on a partially-diluted basis, assuming exercise of the Warrants. Immediately before purchasing the Acquired Shares, the Acquiror had beneficial ownership and control over 13,020,000 Common Shares and 5,760,000 Warrants to purchase 5,760,000 Common Shares, representing in aggregate 18,780,000 Common Shares owned or approximately 15.39% of the outstanding Common Shares on a partially diluted basis, assuming the exercise of the Warrants. After purchasing the Acquired Shares, the Acquiror has beneficial ownership over 15,520,000 Common Shares and 5,760,000 Warrants, representing in aggregate 21,280,000 Common Shares owned, or approximately 14.9% of the outstanding Common Shares of the Company on a partially diluted basis, and approximately 11.33% on an undiluted basis.

The Acquired Shares were purchased for investment purposes. The Acquiror may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the Company or securities exercisable for, or convertible or exchangeable into, securities of the Company, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of the Early Warning Report filed on SEDAR.

A copy of the Early Warning Report of the Acquiror with respect to the foregoing filed under applicable securities laws is available under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com.

Ocean Infinity Group, Limited
First Floor, 6 Grosvenor Street
London W1X 4PZ
Contact: Daniel McIntee
Telephone: 1-832-693-1078

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