Cleantek Industries Inc. Announces Change of Auditors

Cleantek Industries Inc. (TSXV: CTEK), an environmental technology firm based in Calgary, has announced a change in its auditing firm. As of April 30, 2025, KPMG LLP has mutually agreed not to seek reappointment as the Company's auditor for the fiscal year ending December 31, 2025. Consequently, Cleantek has engaged MNP LLP as its new auditor. Notably, KPMG has not issued any reservations in its reports for the last two completed fiscal years or any subsequent period before its resignation.

The transition was approved by Cleantek's audit committee and Board of Directors, and all necessary documentation, including the letter of resignation from KPMG and the appointment letter from MNP, has been reviewed and is available for public viewing on the SEDAR website. This decision comes without any reported disagreements or unresolved issues between Cleantek and KPMG, as per National Instrument 51-102 guidelines.

Cleantek Industries specializes in providing innovative environmental solutions, including wastewater treatment, disposal equipment, and sustainable lighting rental services. The Company serves a diverse range of clients, including prominent exploration and production firms across North America. With a commitment to sustainability and operational excellence, Cleantek is poised to meet the growing demand in the water treatment and clean technology sectors. Their focus on leveraging patented technology to deliver cost-effective solutions underlines Cleantek's strategy for long-term value creation.

For more information, Riley Taggart, President & CEO, can be contacted directly via email or phone, or by visiting Cleantek's official website and LinkedIn page. As always, the TSX Venture Exchange and its Regulatory Services Provider disclaim responsibility for the accuracy of this news release.

Cleantek Industries Inc. (TSXV: CTEK) has recently undergone a significant transition in its auditing partnership, announcing the resignation of KPMG LLP and the appointment of MNP LLP, effective April 30, 2025. This change, agreed upon mutually by both parties, occurs with KPMG having issued clean audit opinions for the preceding two fiscal years, indicating that there are no issues or disagreements that may suggest underlying problems in Cleantek’s financial health.

From a market perspective, this transition can be interpreted positively. The absence of reportable events linked to KPMG’s resignation implies stability and reinforces investor confidence. Furthermore, Cleantek's focus on environmental technology positions it in a lucrative and growing sector, particularly as global emphasis on sustainability intensifies. This could lead to increased demand for its cost-effective wastewater treatment solutions and sustainable lighting services.

However, investors should remain vigilant regarding the implications of changing auditors. While the transition appears smooth and without contention, it often invites scrutiny in the market, as stakeholders may question why a large firm like KPMG opted not to renew the engagement. Keeping an eye on any additional information released by Cleantek concerning this change will be key.

Additionally, Cleantek’s strong ties to blue-chip exploration and production companies suggest a robust client base, potentially insulating it from volatility during economic downturns. As the company continues to capitalize on its patented technologies, maintaining operational excellence while expanding its footprint could create long-term shareholder value.

In conclusion, while Cleantek Industries Inc. presents appealing growth prospects within a thriving sector, investors should monitor the transition to MNP closely, watch for any shifts in market conditions, and maintain a cautious, informed approach in their investment strategies.