Aduro Clean Technologies Inc. announced a non-brokered private placement consisting of a minimum of 1,538,462 units and a maximum of 1,923,080 units at a price of CAD 1.30 per unit for gross proceeds of a minimum of CAD 2,000,000.6 and a maximum of CAD 2,500,004 on May 29, 2024. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable into one common share at a price of CAD 1.60 per warrant share for a period of two years, provided that if the common shares have a closing price on the Canadian Securities Exchange of CAD 1.90 or greater per common share for a period of 10 consecutive trading days at any time after the issuance of the warrants, then the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the thirtieth day after the date of such notice.

The offering is anticipated to close on or about June 14, 2024, or such later date as the company may determine. The closing is subject to certain conditions including, but not limited to, a minimum of CAD 2,000,000.6 in gross proceeds being raised by the LIFE Offering and the receipt of all necessary regulatory and other approvals, including the company?s completion of its filing obligations under the policies of the CSE. The company may pay finder?s fees under the LIFE Offering as permitted by CSE policy and applicable securities laws.