Aduro Clean Technologies (ACT-Cse) Receipt of Proceeds of Approximately $1.1 Million from Exercise of Warrants and Stock Options
Dec 15, '22 - NR
a Canadian developer of patented water-based technologies to chemically recycle plastics, and to transform heavy crude and renewable oils into feedstocks and higher-value fuels, announces that since September 1, 2022, it has received total proceeds of $1,109,103 from the exercise of 1,638,390 warrants at an exercise price of $0.50, 118,635 warrants at an exercise price of $0.80, and 300,000 stock options at an exercise price of $0.65. Accordingly, the Company issued 2,057,025 common shares upon exercise of the warrants and stock options.
The $0.50 warrants were issued pursuant to a private placement that closed on February 4, 2021 and had an expiry date of February 4, 2025. The $0.80 warrants were issued pursuant to a private placement that closed on May 14, 2021 and had an expiry date of May 14, 2023.
Ofer Vicus, Chief Executive Officer of the Company commented: "We deeply appreciate this show of support from our warrant and option holders. The additional proceeds will be used to accelerate laboratory expansion activities and ongoing projects including the commissioning of the continuous flow pilot units."
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 604-362-7011
Investor Cubed Inc.
Neil Simon, CEO
nsimon@investor3.ca
+ 1 647 258 3310 |
