Sarnia, ON, August 17, 2021 – Aduro Clean Technologies Inc. (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50) (the “Company” or “Aduro Clean Technologies”) is a developer of patented water-based technologies to chemically recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels. The Company is pleased to announce that it has entered into an agreement with Digitonic Limited (“Digitonic”) to provide marketing and investor relations services.
Digitonic, a mobile marketing and investor relations firm based in Glasgow, Scotland, will provide content creation, distribution, and advertising services focused on the North American market. Under the terms of the agreement, dated July 27, 2021, Digitonic has agreed to provide services to the Company in exchange for an aggregate amount of US$216,000 in cash for a period of six weeks. The term of service will commence after Aduro Clean Technologies announces the successful demonstration of the Company’s Hydrochemolytic™ technology (HCT) for upgrading heavy petroleum feedstock to lighter petroleum oil using its continuous-flow pre-pilot reactor to be witnessed and validated by a third party.
“The completion and independent validation of HCT in the pre-pilot system is an important step in our journey, as it is the formal affirmation that our novel chemical conversion technology is effective and it sets the stage for our pilot unit and eventual commercialization,” said Ofer Vicus, CEO of Aduro Clean Technologies. “With DTC eligibility anticipated in the near future for electronic clearing and settlement in the US, the digital marketing capabilities of Digitonic will ensure the broad investment community and potential commercial partners are fully informed of our progress.”
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost – a game-changing approach that converts low-value feedstocks into 21st-century resources. With funding and support from Bioindustrial Innovation Canada, the Company has developed a pre-pilot reactor system to upgrade heavy petroleum into lighter oil. Additional information on Aduro Clean Technologies is available on the Company’s website at adurocleantech.com.
For further information, please contact:
Ofer Vicus, CEO
Craig MacPhail, Investor Relations
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. 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. Forward-looking statements in this release include the commencement of investor relations services by Digitonic upon announcement by the Company of the achievement of the First Milestone, as defined under the Securities Exchange Agreement dated October 22, 2020, as amended. 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. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions and other factors beyond the control of the parties. These factors include the possibility that the Company may not achieve the First Milestone as anticipated or at all. 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.
The CSE has not reviewed, approved or disapproved the content of this news release.