LONDON, Ontario, Jan. 30, 2024 (GLOBE NEWSWIRE) — 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 renewable oils, into resources for the 21st century, announces that it has entered into a marketing and consulting agreement with Crystal Research Associates, LLC.
The Company announces that is has entered into a marketing and consulting agreement (the “CRA Agreement”) with an arm’s length investment research and analysis firm, Crystal Research Associates, LLC (“Crystal Research Associates”) of New York City, New York, to create and distribute an Executive Informational Overview and Quarterly Updates on the Company through Crystal Research Associates’ social media channels and online media distribution.
For over twenty years, Crystal Research Associates has successfully articulated the exceptional stories of small- and mid- cap companies to the Wall Street investor community. Through time-tested, well-established methods, Crystal Research Associates communicates objective, heavily researched, factual information for both institutional and retail audiences. This information is distributed through an expansive line of channels, which include industry-leading financial data and information providers, in tandem with highly targeted digital media portals, which collectively target millions of readers. Crystal Research Associates’ research is available to investor audiences via Capital IQ (A Division of Standard and Poor’s), Thomson Reuters, Bloomberg, FactSet, AlphaSense, as well as its website and networks, among other means and modalities. Crystal Research Associates further leverages LinkedIn and other relevant media platforms to gain increased exposure for its clients.
In connection with the CRA Agreement, for a term of two years starting on February 1, 2024, Aduro will pay Crystal Research Associates an aggregate cash fee of US$90,000 plus applicable taxes, of which US$35,000 was paid upon the execution of the CRA Agreement, US$15,000 will be paid three months after commencement of services, and US$40,000 will be paid on February 1, 2025. Aduro also granted Crystal Research Associates 300,000 stock options of the Company. The options vested immediately upon grant and are exercisable at a price of C$1.28 for a period of 24 months. Crystal Research Associates does not own any shares of the Company as of the date hereof and has no direct relationship with the Company other than as set out in this press release.
The engagement of Crystal Research Associates is aimed to increase the visibility of Aduro’s developing technologies in the United States and Internationally.
None of the securities acquired upon exercise of the stock options issued by the Company will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
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.
For further information, please contact:
Ofer Vicus, CEO
Abe Dyck, Investor Relations
Thomas Renaud, Managing Director
+1 212 619 6889
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. In this release, the forward looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of Crystal Research Associates; and, in particular, the anticipated effects of the proposed marketing services, including increased awareness of the Company and its developing technologies in the United States and internationally. 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, but are not limited to, the marketing services not being provided as anticipated, the delivery of such services not resulting in the anticipated results, adverse market conditions and other factors beyond the control of the parties. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0e23a040-df86-4dee-95df-5884d8191ef4