Cleantek Industries Inc. Announces Change of Auditors

Cleantek Industries announced a change in its auditing firm, with KPMG LLP not seeking reappointment for the 2025 fiscal year audit.

Rhea-AI Summary

Cleantek Industries announced a change in its auditing firm, with KPMG LLP not seeking reappointment for the 2025 fiscal year audit. The company has appointed MNP LLP as its new auditor, effective April 30, 2025.

The transition comes with a clean handover, as KPMG's previous audit reports contained no reservations for the two most recent fiscal years. Additionally, there were no reportable events, disagreements, consultations, or unresolved issues between Cleantek and KPMG as defined in National Instrument 51-102.

The change has received full approval from both Cleantek's audit committee and Board of Directors. All relevant documentation, including the notice of change and letters from both auditing firms, has been reviewed by the company's governance bodies and is available on www.sedarplus.ca.

Positive

• None.

Negative

• Change of auditors from Big Four firm KPMG to smaller firm MNP could raise concerns about audit quality and oversight

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Calgary, Alberta--(Newsfile Corp. - April 30, 2025) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company") is announcing that, at the mutual agreement of the Company and KPMG LLP ("KPMG" or the "Predecessor Auditor"), KPMG will not be standing for reappointment as auditor of the Company in respect of the year ended December 31, 2025. As a result, the Company has appointed and engaged MNP LLP ("MNP") as auditors for the Company effective April 30, 2025.

There were no reservations in the Predecessor Auditor's reports for the two most recently completed fiscal years or for any period after the most recently completed period for which an audit report was issued and preceding the date of the KPMG's resignation. There are no reportable events, including disagreements, consultations, or unresolved issues as defined in National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102") (Part 4.11) between the Company and the Predecessor Auditor.

The resignation of KPMG as auditor for the Company has been approved by the Company's audit committee and the Board of Directors. The notice of change of auditor, together with the letter from Predecessor Auditor and the letter from MNP, have been reviewed by the Company's audit committee and its Board of Directors and are posted at www.sedarplus.ca.

About Cleantek Industries Inc.:

Cleantek is an environmental technology-based company that provides specialized and fully integrated wastewater treatment, disposal equipment, and turnkey sustainable lighting rental solutions. By leveraging patented technology and industry expertise, Cleantek delivers tailored, cost-effective solutions to a diverse client base, including blue-chip exploration and production companies across North America.

With a focus on sustainability, safety, and operational excellence, Cleantek is well-positioned to meet the rising water treatment and sustainable lighting market demand. Our proven track record and commitment to innovation drive long-term value creation in the clean technology sector.

For Further Information:

Riley Taggart, President & Chief Executive Officer
E-mail: rtaggart@cleantekinc.com
Tel: 403-567-8700
www.cleantekinc.com
LinkedIn
X

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 or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250309

FAQ

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Why did Cleantek (GLKFF) change auditors from KPMG to MNP in April 2025?

Cleantek and KPMG mutually agreed that KPMG would not stand for reappointment. The company appointed MNP LLP as their new auditors effective April 30, 2025. The change was approved by both the audit committee and Board of Directors.

Were there any issues or disagreements in KPMG's audit reports for Cleantek (GLKFF)?

No, KPMG's audit reports had no reservations for the two most recent fiscal years, and there were no reportable events, disagreements, consultations, or unresolved issues as defined in NI 51-102.

What is the effective date of MNP becoming Cleantek's new auditor?

MNP LLP became Cleantek's new auditor effective April 30, 2025.

Where can investors find Cleantek's auditor change documentation?

The notice of change of auditor, along with letters from KPMG and MNP, can be found on www.sedarplus.ca.

Does the Cleantek (GLKFF) auditor change require shareholder approval?

No, the auditor change was approved by Cleantek's audit committee and Board of Directors, and did not require shareholder approval.