Cielo Announces Proposed $5 Million Convertible Note Financing And Confirms Sale Of Distillate Previously Produced At Aldersyde
Cielo Announces Proposed $5 Million Convertible Note Financing And Confirms Sale Of Distillate Previously Produced At Aldersyde
12/19/22, 3:51 PM
Location
vancouverMoney raised
$5 million
Industry
natural resources
sustainability
Investors
Crestmont Investments, Llc
CALGARY, AB / December 19, 2022 / Cielo Waste Solutions Corp. (TSXV:CMC)(OTCQB:CWSFF) ("Cielo" or the "Company"), a waste-to-fuel environmental technology company, is pleased to announce a proposed private placement of secured convertible notes (the "Notes") for up to an aggregate principal amount of up to CAD $5,000,000 (the "Financing") to a designated affiliate or assignee of Crestmont Investments, LLC (in either case referred to as "Crestmont"), a New York-based investment firm focused on emerging opportunities in decarbonization, healthcare, technology, and special situations, and a non-arm's length party to Cielo.
Company Info
Location
vancouver, washington, united states
Additional Info
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 TSXV under the symbol “CMC,” on the Frankfurt Exchange 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 a leading waste-to-fuel company using economically sustainable technology while minimizing the environmental impact. Cielo has a patented process that can convert waste feedstocks, including organic material and wood derivative waste, to fuel. Having demonstrated its ability to produce diesel and naphtha from waste, Cielo’s business model is to construct additional processing facilities. Cielo’s objective is to generate value by converting waste to fuel, while fueling the sustainable energy transition.