Mr. Abe Dyck reports
ADURO CLEAN TECHNOLOGIES ANNOUNCES CLOSING OF LIFE OFFERING
Further to Aduro Clean Technologies Inc.'s previous news releases dated June 10, 2026, and June 15, 2026, it has completed a non-brokered private placement for gross proceeds of $9,155,940.80 ($6,564,810.21 (U.S.)) from the sale of 431,884 common shares at a price of $21.20 ($15.20 (U.S.)) per LIFE share under the LIFE.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the LIFE offering was made to purchasers resident in all provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption of the Canadian Securities Administrators. The securities offered under the LIFE offering pursuant to the LIFE are not subject to resale restrictions in accordance with applicable Canadian securities laws.
The company's amended and restated offering document dated June 15, 2026, relating to the LIFE offering is available under the company's profile on SEDAR+
and on the company's website.
The company intends to use the net proceeds of the LIFE offering in the manner described in the offering document, including for technology development, commercialization activities, working capital and general corporate purposes.
In connection with the LIFE offering, the company paid aggregate cash finders' fees of $539,994.53 to eligible finders in accordance with applicable securities laws and Toronto Stock Exchange requirements. Certain insiders of the company participated in the LIFE offering. The participation by insiders constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions. The company has relied on applicable exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101. The company did not file a material change report with respect to the insider participation more than 21 days before the expected closing of the LIFE offering, as the details and amounts of the insider participation were not finalized until shortly prior to closing and the company wished to close the transaction as soon as practicable for sound business reasons.
The Toronto Stock Exchange has conditionally approved the LIFE offering. Final approval remains subject to customary postclosing requirements. The company has relied on the exemption set forth in Section 602.1 of the TSX Company Manual in connection with the LIFE offering.
All foreign exchange calculations set forth in this press release is based on the exchange rate posted by the Bank of Canada on June 9, 2026, of $1 (U.S.) equals $1.3947.
About Aduro Clean Technologies
Inc.
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.
We seek Safe Harbor.
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