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LONDON, Ontario, July 09, 2024 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQX: ACTHF) (FSE: 9D50), a Canadian technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewal oils, into resources for the 21st century, announces that it has entered into an investor relations and digital services agreement (the “KCSA Agreement”) with an arm’s length marketing firm, Kanan Corbin Schupak & Aronow, Inc. dba KCSA Strategic Communications (“KCSA”) of New York City, New York.
KCSA will provide investor relations and digital services, including building and managing Aduro’s brand through their AmplifIR digital IR platform (the “Services”), for an initial term of six months beginning July 15, 2024 (the “Initial Term”), which Services shall continue thereafter unless either the Company or KCSA provides written termination notice not less than 30 days prior to the end of the Initial Term, and thereafter upon at least 30 days’ written notice by either the Company or KCSA.
In consideration for the Services, Aduro will pay KCSA a monthly fee of US$10,000 for investor relations services, a one-time project fee of US$12,500 upon execution of the KCSA Agreement, and US$106,400 for digital marketing services paid in two installments of US$53,200 over 2 months. KCSA is not related to the Company and, to the knowledge of the Company’s management, has no interest, directly or indirectly, in Aduro or its securities. KCSA is at arm’s length to Aduro and has no other relationship with Aduro except pursuant to the KCSA Agreement.
The Company’s engagement with KCSA, a leading New York-based communications firm, is another step in its efforts to enhance communication with the current investor community and expand visibility to a greater audience. The Company expects that KCSA will be able to facilitate greater awareness and widespread dissemination of the Company’s news. KCSA will employ a comprehensive communications program designed to increase awareness of Aduro across the investment community. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape.
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:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 226 784 8889
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, expectations regarding the implementation of investor relations and digital services of KCSA and, in particular, the anticipated effects of the proposed marketing services, including increased awareness of the Company and its developing technologies in Canada, the United States and internationally. 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/40484cf4-88bc-4986-a56d-1b2389162795
