SARNIA, Ontario, May 04, 2023 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50), a Canadian developer of patented water-based technologies to chemically recycle plastics and to transform heavy crude and renewable oils into new-era resources and higher-value fuels, is pleased to announce that it has retained Arrowhead Business and Investment Decisions, LLC. ("Arrowhead") to provide investor relations services to the Company and develop its international market awareness.
Arrowhead will advise Aduro on its international capital markets strategy and has been engaged to, among other matters, (i) expand the following of the Company and the involvement of the investment community in its equity story; (ii) advise on messaging and optimize corporate materials; (iii) provide independent perspective and valuation on the Company; and (iv) assist with long-term investor relationship management. Arrowhead will work closely with Aduro to develop and deploy a comprehensive international investor marketing program, which will include featuring the Company on the Arrowhead platform, the publication of independent analysis, investor targeting, corporate disclosure distribution, non-deal roadshows, reporting and strategic advisory. The marketing services will occur on the Arrowhead social media channels and arrowhead.bid platform.
Arrowhead is headquartered in New York City and was founded in 2008. Arrowhead advises public companies on investor relations, financial communications, and capital markets strategies. As a cross-border specialist, Arrowhead provides idea generation, insight, and corporate access to an international network of institutional and private investors. Through targeting, research and interactions, Arrowhead helps corporations and investors to evaluate opportunities, connect, exchange information, and transact.
Arrowhead will provide services for an initial term starting May 8, 2023, and ending December 31, 2023. This initial term may be further extended for renewable six-month terms, subject to earlier termination by 30 days written notice from either party. Cash compensation for the services during the initial term will be US$45,000, with US$25,000 payable on execution of the agreement and US$20,000 payable after three months. Arrowhead is not related to the Company and has no interest, directly or indirectly, in the Company or its securities.
“We are delighted to engage Arrowhead as we think they are the right partner to help expand the reach of our investor relations program considering their knowledge of the ESG and Impact investment landscape and cross-border expertise. We look forward to the opportunity to present Aduro to their network of institutional and private investors at this exciting time for our Company,” said Chief Executive Officer, Ofer Vicus.
Daniel Renaud, Managing Director at Arrowhead added: “We are thrilled by this engagement to represent Aduro Clean Technologies and raise investor awareness of this mission driven company. This is an exciting time for their organization as it continues to scale and commercialize its versatile Hydrochemolytic™ Technology Platform across diverse end uses embedded in the circular economy, including the upcycling of industrial plastic waste. We are looking forward to making the company better known within the U.S. and the larger international investment community. We believe many market participants will find the information we provide on Aduro valuable and will take interest in their business.”
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 activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into 21st-century resources.
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 604-362-7011
For more information on Arrowhead, please visit arrowheadbid.com and/or contact:
Daniel Renaud
Managing Director
45 Broadway, 31st Floor
New York, NY 10006
Office: +1 212 619-6889
enquire@arrowheadbid.com
Forward-Looking Statements
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. In this release, the forward-looking statements include, but are not limited to, Arrowhead’s proposed investor relations services and the anticipated effects of the proposed marketing services, including increased awareness of the Company in the United States and international investment communities. 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, but are not limited to, the marketing services not being provided as anticipated, the delivery of such services not resulting in the anticipated results, adverse market conditions and other factors beyond the control of the parties. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f16eef6-98a2-4de9-92dd-9e3093b8834b
