FluroTech Ltd. Announces Termination of Letter of Intent with Renewable Geo Resources Ltd.

Calgary, Alberta--(Newsfile Corp. - October 6, 2023) - FluroTech Ltd. (TSXV: TEST) (OTCQB: FLURF) ("FluroTech" or the "Company") announces that the previously announced letter of intent, as amended, between FluroTech and Renewable Geo Resources Ltd. ("RGRL") dated April 14, 2023, in respect of the proposed business combination between FluroTech and RGRL (the "Proposed Transaction") as further described in the press release dated April 18, 2023, has been terminated in accordance with its terms.

FluroTech has applied to the TSX Venture Exchange to resume trading of its common shares, which were previously halted from trading pending completion of the Proposed Transaction.

For further information please contact:

Contact Information

FluroTech Ltd.
Danny Dalla-Longa, CEO
601, 256 Stewart Green SW
Calgary, AB T3H 3C8
info@flurotech.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the resumption of trading of FluroTech's common shares. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals, including approval from the TSX Venture Exchange. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183225