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    ZC   CA9895892052

ZIMTU CAPITAL CORP.

(ZC)
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Zimtu Capital : Aduro Clean Technologies Inc. announces results of 2021 Annual General Meeting

12/01/2021 | 12:31pm EST

Sarnia, ON, November 29, 2021 - 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 transform heavy crude and renewable oils into new-era resources and higher-value fuels, announces the results of its 2021 Annual and Special Meeting ("AGM") of shareholders held on Monday, November 29, 2021, in Toronto, Canada.

Shareholders approved all the resolutions detailed in the management information circular of the Company dated October 28, 2021, namely:

  • setting the number of directors of the Company at 4;
  • electing Chris Parr, Peter Kampian, William Marcus Trygstad and Ofer Vicus as directors of the Company;
  • appointing DeVisser Gray LLP, Chartered Professional Accountants, as the auditors of the Company for the fiscal year ending May 31, 2022 and authorizing the directors of the Company to fix the remuneration to be paid to the auditors for the fiscal year ending May 31, 2022; and
  • ratifying, confirming and approving the Company's amended and restated incentive stock option plan.

A total of 16,442,117 common shares of the Company were voted at the AGM, representing 46.30% of the issued and outstanding common shares of the Company, with the following results:

Resolution Votes For Votes Against Votes Withheld
Setting number of directors at 4 100% - -
Elect Chris Parr as director 100% - -
Elect Peter Kampian as director 100% - -
Elect William Marcus Trygstad as director 99.99% - 0.01%
Elect Ofer Vicus as director 99.99% - 0.01%
Appointment of auditors 100% - -
Approval of Company's amended and restated incentive stock option plan* 99.93% 0.07%- -
*results include only votes of disinterested shareholders

About Aduro Clean Technologies

Aduro Clean Technologies Inc. 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. With funding and support from Bioindustrial Innovation Canada, the Company has developed a pre-pilot reactor system to upgrade heavy petroleum into lighter oil.

For further information, please contact:

Ofer Vicus, CEO
ovicus@adurocleantech.com

Craig MacPhail, Investor Relations
ir@adurocleantech.com
+1 604-362-7011

The CSE has not reviewed, approved, or disapproved the content of this news release.

Disclaimer

Zimtu Capital Corp. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 17:30:03 UTC.


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Financials
Sales 2020 1,39 M 1,09 M 1,09 M
Net income 2020 3,70 M 2,91 M 2,91 M
Net cash 2020 8,83 M 6,93 M 6,93 M
P/E ratio 2020 0,67x
Yield 2020 -
Capitalization 3,42 M 2,69 M 2,69 M
EV / Sales 2019 -1,53x
EV / Sales 2020 -4,56x
Nbr of Employees -
Free-Float 80,0%
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Last Close Price 0,21 
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Managers and Directors
David Ian Hodge President, Chief Executive Officer & Director
Jody Bellefleur Chief Financial Officer
Kevin James Bottomley Independent Director
John Christopher Grove Secretary & Independent Director
Sean Charland Director
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