Sarnia, ON, July 20, 2021 – Aduro Clean Technologies Inc. (CSE: ACT) (OTCQB: ACTHF) (the “Company” or “Aduro Clean Technologies”), a developer of patented water-based chemical technologies to recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels, is pleased to announce that the Company’s common shares have been approved to trade on the OTC Markets Group Inc.’s OTCQB® Venture Market (the “OTCQB”) in the United States of America, under the ticker symbol ACTHF, effective as of the open of trading on July 20, 2021. The Company is also in the process of obtaining DTC eligibility, which the Company expects to be completed in the near future.
“We anticipate that in addition to our CSE listing, trading on the OTCQB Market will raise our visibility and liquidity within the U.S. investment community and facilitate easier access for U.S. investors participate in trading our shares. This listing allows us to further grow our shareholder base and we are excited to share our story with U.S.-based investors,” said Ofer Vicus, CEO of Aduro Clean Technologies.
The OTCQB is recognized as an “established public market” by the U.S. Securities and Exchange Commission and is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline for transparency, as well as the technology and regulation to improve the information and trading experience for investors. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
OTC Markets Group Inc. is an American financial market providing price and liquidity information for almost 10,000 over-the-counter securities. The group has its headquarters in New York City. OTC – traded securities are organized into three markets to inform investors of opportunities and risks: OTCQX, OTCQB and Pink.
Trading on the OTCQB is a significant milestone from the perspective of the Company. In particular, the Company anticipates the quotation will provide current shareholders and new investors with greater access and liquidity.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based chemical recycling technologies that transform waste plastics into new-era resources, heavy crude oil and bitumen into lighter substances, and renewable oils into higher-value fuels. The Company’s Hydrochemolytic™ technology activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost – a game-changing approach that converts waste into 21st-century resources. With funding and support from Bioindustrial Innovation Canada, the Company is developing a pre-pilot reactor system to convert and upgrade heavy petroleum feedstock to lighter petroleum oil. Additional information on Aduro Clean Technologies is available on the Company’s website at adurocleantech.com.
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This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. The forward-looking statements reflect management’s 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. Forward-looking statements in this release include the potential benefits of the Company’s quotation on the OTCQB, including increased liquidity and access, and the anticipated timing of the quotation and DTC eligibility.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions and other factors beyond the control of the parties. These factors include the possibility that the benefits of quotation on the OTCQB are not as expected, including that liquidity and access is not increased, and that the approval for quotation and/or DTC eligibility are not obtained as anticipated or at all. 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 CSE has not reviewed, approved or disapproved the content of this news release.