Sarnia, ON, February 8, 2022 – Aduro Clean Technologies Inc.(“Aduro” or the “Company”) (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50), a Canadian developer of patented water-based technologies to chemically recycle plastics, and to transform heavy crude and renewable oils into new-era resources and higher-value fuels, announces the engagement of Investor Cubed Inc. (“Investor Cubed”) to provide financial consulting and investor relations services in Canada.
The consulting agreement (the “Agreement”) provides for a fee of CAD $7,500 per month and the granting of 300,000 options vesting quarterly, in equal installments. The Agreement will continue on a monthly basis for twelve months and Aduro may cancel the agreement after the first three months, by providing written notice to Investor Cubed on or before March 30th, 2022. Thereafter either party may terminate the Agreement, by providing 30 days written notice on or before each three-month period end.
“As Aduro moves to the next stage, Neil and his team at Investor Cubed will introduce us to their established contacts in retail, institutional, and investment banking, needed at this juncture of our business. We look forward to working with their team.” says Ofer Vicus, CEO of Aduro.
“We are very excited to be working with Ofer and the Aduro team. After more than ten years of development, Aduro is now well-positioned to move forward as they near commercial operations, so this is an ideal time for us to get involved and start introducing Aduro to retail and institutional investors,” says Neil Simon, CEO at Investor Cubed.
About Investor Cubed Inc.
Investor Cubed provides specialized services to small-cap and mid-cap private and public companies. With over 20 years experience, Investor Cubed has built relationships with Canada’s top advisors, dealers, institutions, and investors. As a trusted partner to our clients, our objective is to help take clients to the next level of development and recognition in the capital markets. We provide multiple services, including investor relations, financial consulting, dealer introductions, research, go-public assistance, and access to capital. Through accomplishing this, we help create value for our clients’ shareholders. Investor Cubed can trace its success to our core values: Integrity + Insight + Intelligence = I3. For more information go to www.investor3.ca
About Aduro Clean Technologies Inc.
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.
For further information, please contact:
Ofer Vicus, CEO
Abe Dyck, 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 expected engagement of Investor Cubed, the provision of services and expected benefits, including that Investor Cubed will introduce Aduro to its retail and institutional investors. 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 Investor Cubed may not perform the services as anticipated, or at all, and that the anticipated results may not occur as expected or at all, including that Aduro may not receive any introductions, or such introductions may not benefit 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.