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Apex Trader Funding (ATF) - News

Aduro Clean Technologies Announces Closing of Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES LONDON, Ontario, June 18, 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 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 ...