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Aduro Clean Technologies Inc. ("Aduro" or the "Company") (Nasdaq: ADUR) (CSE: ACT) (FSE: 9D5), a clean 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 received conditional approval to list its common shares on the Toronto Stock Exchange ("TSX") under the symbol "ACT". Final approval of the listing remains subject to the Company fulfilling all the requirements of the TSX, including receipt of all required documentation.
The Company will issue a news release once the TSX confirms the expected trading date. In connection with the TSX listing, the Company expects to delist its common shares from the Canadian Securities Exchange ("CSE"). Shareholders are not required to exchange their share certificates or take any other action in connection with the listing, as there will be no change in the trading symbol or CUSIP for the common shares.
"Since going public on the CSE in 2021, Aduro has advanced from an early-stage public technology company into a Nasdaq-listed chemical technology developer with a strengthened balance sheet and expanding industrial commercialization programs," said Ofer Vicus, Chief Executive Officer of Aduro. "The Company has progressed its Hydrochemolytic™ Technology ("HCT") through Next Generation Process ("NGP") Pilot Plant operating campaigns, First-of-a-Kind ("FOAK") industrial project development, commercial offtake engagement, license package development, and expanded petroleum applications. We sincerely thank the CSE for providing a platform for our early public-market growth and investor access and look forward to taking this next step with the Toronto Stock Exchange as we continue advancing HCT across waste plastics, heavy hydrocarbons, and renewable oils."
Aduro is currently included in the CSE25 Index, which represents the 25 largest companies on the Canadian Securities Exchange by market capitalization. This is a testament to Aduro's growing capital markets profile and shareholder recognition for the continued progress achieved since Aduro's public listing on the CSE. The proposed TSX listing represents the next stage in Aduro's capital markets evolution, supporting broader market visibility, increased access to institutional investors, and the continued development of the Company's Canadian public-market profile.
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 relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Abe Dyck, Head of Corporate Development / Investor Relations
ir@adurocleantech.com
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Senior Vice President
aduro@kcsa.com
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include, but are not limited to, statements regarding the proposed listing of the Company's common shares on the TSX; the satisfaction of final TSX listing requirements; the expected timing of commencement of trading on the TSX; the expected delisting of the Company's common shares from the CSE; the anticipated benefits of the TSX listing, including broader market visibility, increased access to institutional investors, and the continued development of the Company's Canadian public-market profile; and the Company's continued advancement of Hydrochemolytic™ Technology across waste plastics, heavy hydrocarbons, and renewable oils.
Forward-looking statements are based on management's current expectations and assumptions, including assumptions regarding the Company's ability to satisfy final TSX listing requirements; the receipt of all required documentation and approvals; the timing of the commencement of trading on the TSX; the delisting of the Company's common shares from the CSE; the continued development and performance of Hydrochemolytic™ Technology; the availability of capital, permits, approvals, equipment, partners, and other resources required to support the Company's development programs; the Company's ability to execute its business plans and achieve its stated objectives; the Company's ability to maintain and expand market visibility and investor access; and the stability of market, regulatory, and economic conditions.
These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the risk that final TSX approval may not be obtained or may be delayed; the risk that the commencement of trading on the TSX may not occur on the anticipated timeline or at all; the risk that the expected delisting from the CSE may be delayed or may not occur as anticipated; risks related to market conditions, trading liquidity, and investor interest; risks related to the development, scale-up, commercialization, and market acceptance of Hydrochemolytic™ Technology; technical, operational, permitting, financing, supply chain, and integration risks; risks related to feedstock availability and quality; regulatory, certification, and policy risks; competition; and other risks described in the Company's public filings available at www.sedarplus.ca and www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, Aduro undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/33a335d1-8410-4dcb-877a-3fb64fe2124e
