Aduro Clean Technologies Announces Private Placement of up to $2.5 Million
Summary
Each Warrant will be 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, provided that 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.There is an offering document (the Offering Document) related to the LIFE Offering that can be accessed under the Companys profile at www.sedarplus.ca and on the Companys website at www.adurocleantech.com. Units offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions to Canadian resident investors pursuant to applicable Canadian securities laws.The LIFE Offering is anticipated to close on or about June 14, 2024, or such later date as the Company may determine. The closing is subject to certain conditions including, but not limited to, a minimum of $2,000,001 in gross proceeds being raised by the LIFE Offering and the receipt of all necessary regulatory and other approvals, including the Companys completion of its filing obligations under the policies of the CSE.As disclosed in the Offering Document, the Company may pay finders fees under the LIFE Offering as permitted by CSE policy and applicable securities laws.None of the securities sold in connection with the LIFE Offering will be registered under the United States Securities Act of 1933, as amended, and none of these securities may be offered or sold in the United States. The forward-looking statements reflect managements 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: the Company may not complete the Offering as proposed; the CSE may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; 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 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/8ce31889-c111-4a65-a8ec-9172a9ed1224