Aduro Clean Technologies Finalizes LIFE Offering
Aduro Clean Technologies Inc. (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5) has announced the closing of its non-brokered private placement, generating gross proceeds of C$9,155,940.80 (US$6,564,810.21). The offering involved the sale of 431,884 common shares at a price of C$21.20 (US$15.20) per share under the listed issuer financing exemption (LIFE Exemption).
Details of the Offering
The LIFE Offering was conducted pursuant to National Instrument 45-106 – Prospectus Exemptions and was available to purchasers in all Canadian provinces except Quebec. The securities issued under this exemption are not subject to resale restrictions under Canadian securities laws. The Company’s amended and restated offering document dated June 15, 2026 is accessible on SEDAR+ and the Company’s website.
Use of Proceeds
Aduro intends to allocate the net proceeds from the LIFE Offering toward technology development, commercialization activities, working capital, and general corporate purposes, as detailed in the offering document. The company focuses on transforming lower-value feedstocks such as waste plastics, heavy bitumen, and renewable oils into valuable resources using advanced chemistry.
Finder’s Fees and Insider Participation
In connection with the offering, the Company paid aggregate cash finder’s fees of C$539,994.53 to eligible finders, in compliance with applicable securities laws and Toronto Stock Exchange requirements. Certain insiders participated in the LIFE Offering, which constitutes a “related party transaction” under Multilateral Instrument 61-101. The Company relied on exemptions from formal valuation and minority approval requirements, as the details of insider participation were finalized shortly before closing.
Regulatory Approvals
The Toronto Stock Exchange has conditionally approved the LIFE Offering, with final approval subject to customary post-closing requirements. The Company relied on the exemption set forth in Section 602.1 of the TSX Company Manual for this offering.
