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Cielo Closes Marketed Short Form Prospectus Financing For Gross Proceeds Of Approximately $9.775Mm, Including Full Exercise Of Over-Allotment

Jul 08, 2022•about 3 years ago
Vancouver

Description

VANCOUVER, BC / July 8, 2022 / Cielo Waste Solutions Corp. (TSXV:CMC)(OTCQB:CWSFF)(Frankfurt:C36) ("Cielo" or the "Company") today announced that it has closed the previously announced best efforts marketed public offering (the "Public Offering") of units (the "Units") of the Company, including the full exercise of the over-allotment option for combined gross proceeds of approximately $9.775 million. Pursuant to the terms of the Public Offering, the Company issued 139,642,856 Units at a price of $0.07, including 18,214,285 Units issued pursuant to the exercise of the over-allotment option. The Units were offered and sold by way of a short form prospectus filed in the provinces of British Columbia, Alberta, and Ontario (the "Prospectus").

Company Information

Company

Cielo

Location

Vancouver, Washington, United States

About

Cielo Waste Solutions Corp. was incorporated under the Business Corporations Act (British Columbia) on February 2, 2011. Cielo is a publicly traded company with its shares listed to trade on the TSX Venture Exchange ("TSXV") under the symbol "CMC," on the Frankfurt Exchange ("DAX") under the symbol "C36", as well as on the OTC Venture Market ("OTCQB"), under the symbol "CWSFF." The Company's strategic intent is to become one of the leading waste-to-fuel environmental technology companies using its environmentally friendly, economically sustainable technology. Cielo has a patented process that can convert waste feedstocks, including plastics, rubber, organic material, and wood derivative waste to fuel. Cielo's business model is to source waste feedstocks from industrial producers and other suppliers and convert the feedstocks into fuels. Having demonstrated its ability to produce diesel and naphtha from waste, Cielo plans to further enhance its Aldersyde Facility and to construct additional facilities that will convert waste feedstocks to energy fuels, including diesel, naphtha, and kerosene. The diesel from Cielo's distillate could be used in diesel engines. Kerosene could be suitable for aviation or marine jet fuel, and naphtha could be used to assist in transporting heavy oil. Cielo's objective is to generate value from converting waste to fuel while ridding the world of unwanted and problematic waste.