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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
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgvancouver
Money 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

Company
Cielo
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 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.

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