CALGARY, AB /ACCESSWIRE/September 15, 2022/ Cielo Waste Solutions Corp. (TSXV:CMC)(OTCQB:CWSFF) (“Heaven” or the “Company”), a waste-to-fuel environmental technology company, is pleased to announce that it has completed the equity-for-debt transaction (the “Equity-for-Debt Transaction”) previously announced on August 9, 2022 , pursuant to the agreement between Cielo and First Choice Financial Incorporated (“FCF”) and KV Capital Inc. (“KV”with FCF, collectively the “Lenders”) for the repayment of CA$2,000,000 of a mortgage loan (the “Ready”) provided by the Lenders in August 2021.
Following the approval of the TSXV Venture Exchange, the Company issued 21,428,571 common shares of Cielo at a price of $0.07 per share and 5,555,555 common shares of Cielo at a price of $0.09 per share. share, for a total issue of 26,984,126 ordinary shares of Cielo (the “Redemption Shares” ). The result of issuing redemption shares is a reduction of the loan to a principal balance of C$4,500,000.
In addition, as previously announced, 2,000,000 Bonus Warrants (as defined in August 9 e press release) will have their term reduced and, if not exercised, will expire on or around December 7, 2022.
Redemption shares are subject to a 4-month hold period, which will expire on January 9, 2023.
For more information, please contact:
Ryan Jackson, interim CEO
Call: (403) 348-2972
Cielo Investor Relations
RB Milestone Group LLC (USA):
Trevor Brucato, General Manager
New York, NY and Stamford, CT
Cielo Waste Solutions Corp. was incorporated under the Business Corporations Act (British Columbia) on February 2, 2011. Cielo is a publicly traded company whose shares are listed on the TSX Venture Exchange (“ TSXV “) under the symbol “CMC,” on the Frankfurt Stock Exchange (“ DAX “) under the symbol “C36”, as well as on the OTC Venture Market (“ OTCQB “), under the symbol “CWSFF.” The company’s strategic intention is to become a leading company in waste recovery. The company intends to use economically sustainable technology while minimizing environmental impact. Cielo has a patented process that can convert waste feedstock, including waste organics and wood derivatives, into fuel.Having demonstrated the ability to produce diesel and naphtha from waste, the model Cielo’s business is to build additional processing facilities Cielo’s goal is to generate value by converting waste into fuel, while fueling the sustainable energy transition.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements and information (hereinafter collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of current or historical facts are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuing”, “in progress”, “estimate”, “prospect”, “expect”, “may”, “will”, “plan”, “should” or similar words, including their negative forms, suggesting future results.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which may cause actual results, level of activity, performance or the Company’s achievements are materially different. of those expressed or implied by such forward-looking statements. Cielo makes forward-looking statements regarding, but not limited to, : the reduction of the loan principal to C$4,500,000 (upon delivery of redemption shares to the lenders); the expiration of 2,000,000 Bonus Warrants and the timing thereof; the duration and expiry of the 4-month holding period on the redemption shares.
Investors should continue to review and consider information disseminated through press releases and filed by the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be those anticipated, estimated or expected.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some of which are described here. These forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the actual performance and results of the Company to differ materially from the projections of future performance or results expressed or implied by these forward-looking statements. All forward-looking statements are made as of the date hereof and, except as required by law, the Company undertakes no obligation to publicly update or revise such statements to reflect new information, whether subsequent or not. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTCQB nor WKN has reviewed the contents of this press release and accepts no responsibility for its relevance or accuracy.
THE SOURCE: Cielo Waste Solutions Corp.
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