Aduro Clean Technologies Announces Closing of Non-Brokered Private Placement
18 Giugno 2024 - 1:30PM
Aduro Clean Technologies Inc.
(“
Aduro” or the “
Company”) (CSE:
ACT) (OTCQX:
ACTHF) (FSE:
9D50), a Canadian technology company using the
power of chemistry to transform lower value feedstocks, like waste
plastics, heavy bitumen, and renewal oils, into resources for the
21st century, is pleased to announce that, further to its news
release dated May 29, 2024, it has closed its non-brokered private
placement by issuing 2,711,077 units (each, a
“
Unit”) at $1.30 per Unit for gross proceeds of
$3,524,400.10 (the “
LIFE Offering”).
“We are extremely pleased with the continued
support of our existing shareholders and welcome our new
shareholders. The strong interest in this offering is a clear
demonstration of the positive impact of our growing investor base
in Canada and internationally,” said Ofer Vicus, Chief Executive
Officer of Aduro.
Each Unit consists of one (1) common share in
the capital of the Company (each, a “Common
Share”) and one-half (1/2) of one Common Share purchase
warrant (each whole warrant, a “Warrant”). Each
Warrant is exercisable into one (1) Common Share (each, a
“Warrant Share”) at a price of $1.60 per Warrant
Share for a period of two (2) years from the date of issuance,
subject to an acceleration right (the “Acceleration
Right”). Pursuant to the Acceleration Right, if the Common
Shares have a closing price on the Canadian Securities Exchange
(the “CSE”) (or such other securities exchange on
which the Common Shares may be traded at such time) of $1.90 or
greater per Common Share for a period of ten (10) consecutive
trading days at any time after the issuance of the Warrants, then
the Company may accelerate the expiry date of the Warrants by
giving notice to the holders thereof (by disseminating a news
release advising of the acceleration of the expiry date of the
Warrants) and, in such case, the Warrants will expire on the
thirtieth (30th) day after the date of such notice.
The Company paid an aggregate of $144,053.91 in
cash and issued 74,059 finder’s warrants (the “Finder’s
Warrants”) to certain finders in connection with the LIFE
Offering. The Finder’s Warrants are exercisable at $1.60 per Share
for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds from
the LIFE Offering to fund the research and development of the
Company’s chemical recycling technologies and for general
administrative and working capital expenses.
The Units were sold to purchasers resident in
Canada and other qualifying jurisdictions pursuant to the listed
issuer financing exemption under Part 5A of National Instrument
45-106 – Prospectus Exemptions (the “Listed Issuer
Financing Exemption”). Since the LIFE Offering was
completed pursuant to the Listed Issuer Financing Exemption, the
securities issued in the LIFE Offering will not be subject to a
hold period pursuant to applicable Canadian securities laws. The
Finder’s Warrants are subject to hold period of four months and one
day from the date of issuance.
None of the securities sold in connection with
the LIFE Offering were or will be registered under the United
States Securities Act of 1933, as amended. Further, none of these
securities were offered or sold in the United States. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
For further information, please
contact:
Ofer Vicus, CEOovicus@adurocleantech.com
Abe Dyck, Investor
Relationsir@adurocleantech.com+1 226 784 8889
ArrowheadThomas Renaud, Managing
Directorenquire@arrowheadbid.com+1 212 619 6889
Forward-Looking Statements
This news release contains forward-looking
statements. All statements, other than statements of historical
fact that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future are forward-looking statements. Forward-looking statements
in this news release include statements regarding: the intended use
of proceeds of the LIFE Offering. The forward-looking statements
reflect management’s current expectations based on information
currently available and are subject to a number of risks and
uncertainties that may cause outcomes to differ materially from
those discussed in the forward-looking statements including: that
the proceeds of the LIFE Offering may not be used as stated in this
news release; adverse market conditions and other factors beyond
the control of the parties. Although the Company believes that the
assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, undue reliance should not be put on
such statements due to their inherent uncertainty. Factors that
could cause actual results or events to differ materially from
current expectations include general market conditions and other
factors beyond the control of the Company. The Company expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.
Risks and uncertainties about the Company's business are more fully
discussed under the heading “Risk Factors” in its most recent
Annual Information Form. They are otherwise disclosed in its
filings with securities regulatory authorities available on SEDAR
at www.sedar.com.
The Canadian Securities Exchange (operated by
CNSX Markets Inc.) has neither approved nor disapproved of the
contents of this press release.
A photo accompanying this announcement is available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/d7a7f8dd-d3f3-4e90-a855-d367b27f1c60
Grafico Azioni Aduro Clean Technologies (TG:9D50)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Aduro Clean Technologies (TG:9D50)
Storico
Da Set 2023 a Set 2024