Cielo Waste Solutions Advances Acquisition Plans and Market Engagement

Cielo Waste Solutions Updates Acquisition Strategy

Cielo Waste Solutions Corp. (TSXV: CMC; OTC PINK: CWSFF) has provided an essential update regarding its binding letter of intent to acquire the Carseland facility from Rocky Mountain Clean Fuels Inc. This strategic move is designed to bolster Cielo's capabilities in producing renewable fuels and generating revenue, contingent upon the approval from the TSX Venture Exchange.

Details of the Acquisition

The facility in question is an established synthetic fuel production site utilizing Enhanced Gas-To-Liquids (EGTL™) technology. This cutting-edge technology converts natural gas and natural gas liquids into synthetic diesel and jet fuel. The acquisition positions Cielo favorably in the growing renewable energy sector.

Implementation of Enhanced Technologies

In their plans to enhance the functionality of the Carseland facility, Cielo intends to construct a gasifier on the adjacent land. This addition will facilitate the use of its patented Enhanced Biomass to Liquids (EBTL™) technology, aiming to create Bio-Syngas from biomass inputs. The production of Bio-Synfuels, which is anticipated to have a near net-zero carbon intensity, will allow Cielo to diversify inputs, thus optimizing fuel production at the facility.

Update on Timeline for the Transaction

Originally, Cielo had anticipated closing the acquisition by early September. However, due to the complexities involved in the due diligence process, both Cielo and Rocky Mountain Clean Fuels have agreed to extend the timeline. This will ensure thorough investigation before moving forward with the execution of definitive agreements.

Market Maker Engagement

Furthermore, Cielo has secured marketing services from Integral Wealth Securities Limited to ensure an orderly market environment. Integral is set to receive a cash fee of $6,000 per month for these services. The engagement reflects Cielo's commitment to maintaining transparency and fostering investor confidence.

Insights on the Market Strategy

Integral will provide market-making services without acquiring any shares or options in the company, keeping the transaction transparent and ensuring they remain aligned with Cielo's interests. This partnership is also subject to approval by the TSX Venture Exchange, ensuring compliance with regulatory requirements.

Termination of Private Placement Offering

Amidst current market fluctuations, Cielo has made the decision to terminate its proposed private placement offering of convertible debenture units, a plan initially announced some months ago. This decision reflects the company’s agile approach to navigating market conditions while focusing on more strategic growth avenues.

About Cielo Waste Solutions

Cielo is committed to leading the shift towards sustainable fuel production. Their innovative approach leverages environmentally friendly technologies to transform wood waste into valuable renewable fuels. With exclusive licenses for patented technologies in both Canada and the United States, Cielo is enhancing its project portfolio and operational capacity.

By promoting a non-food derived fuel model, Cielo aims to make significant contributions to reducing carbon footprints while generating returns for its shareholders. They are continually working toward the goal of changing the fuel without altering the infrastructure, a philosophy that guides their ongoing projects and initiatives.

Contact Information

For further inquiries, please reach out to:

Ryan Jackson, CEO
Phone: (403) 348-2972
Email: investors@cielows.com

Frequently Asked Questions

What is the main purpose of the acquisition by Cielo?

The acquisition aims to enhance Cielo's production capabilities in renewable fuels and to diversify the feedstock used in its processes.

What technology does the Carseland facility utilize?

The facility uses Enhanced Gas-To-Liquids (EGTL™) technology to convert natural gas into synthetic fuels.

What is planned for the land adjacent to the facility?

Cielo plans to build a gasifier on the adjacent land to support the production of Bio-Syngas using its enhanced biomass technology.

Who will provide market-making services for Cielo?

Cielo has engaged Integral Wealth Securities Limited for market-making services to maintain an orderly market.

Why was the private placement offering terminated?

Due to current market conditions, Cielo decided it was prudent to terminate the proposed private placement of convertible debenture units.

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