Welcome to our dedicated page for Cielo Waste Solu news (Ticker: CWSFF), a resource for investors and traders seeking the latest updates and insights on Cielo Waste Solu stock.
Cielo Waste Solutions Corp. develops clean energy products projects that convert waste-derived feedstocks into sustainable aviation fuel and other low-carbon energy products. The company’s recurring news centers on Project Nexus, the Nexus Platform, feedstock and technology partnerships, project evaluation and engineering work, and financing or grant-related steps tied to waste-to-energy development.
Company updates also include capital-structure actions, securities-for-debt transactions, stock option grants, exchange trading status, and shareholder communications following Cielo’s restructuring, wind-down of legacy operations, and strategic pivot toward sustainable aviation fuel projects across North America.
Cielo Waste Solutions has signed a non-binding Letter of Intent (LOI) with Kodiak Chemical Solutions to purchase Waste Derived Naphtha (WDN) from its Alberta production facilities. The agreement anticipates a profitable revenue stream driven by market-demand pricing. Cielo is also focusing on operational enhancements at its Aldersyde facility and plans to move its corporate office to downtown Calgary. The commissioning of a desulfurization process is expected by the end of September 2021. The company aims to expand its production of renewable fuels using proprietary technology.
Cielo Waste Solutions has announced the appointment of George H. Brookman and Larry Schafran to its board of directors, effective September 8, 2021, replacing Doug Mackenzie and Chris Dovbniak who are resigning. Additionally, Christopher Sabat has been appointed as Corporate Secretary and General Counsel, effective September 1, 2021. The company also disclosed a delay in filing its annual financial statements for the fiscal year ended April 30, 2021, due to the need to restate previous financial documents. An application for a Management Cease Trade Order has been made to the BC Securities Commission.
Cielo Waste Solutions has successfully acquired a 60-acre industrial site in Fort Saskatchewan, Alberta, complemented by a 31,750 square foot industrial building, for CDN$13M, offering a net savings of CDN$9M. The site, previously developed at a cost of CDN$22M, is set to expedite Cielo's future waste-to-fuel facility operations. Concurrently, the company secured a CDN$12M mortgage loan at a 6% annual interest rate to help finance the purchase. The loan includes 12 million share purchase warrants as an inducement and has received conditional approval from the TSX Venture Exchange.
Cielo Waste Solutions has successfully completed a non-brokered convertible debenture financing, securing gross proceeds of CDN$4,000,000. This financing involved the issuance of 4,000 unsecured convertible debentures, each worth CDN$1,000, convertible into common shares at $1.25 per share within a 12-month period. The funds will support engineering work for a new facility in Fort Saskatchewan, Alberta. Cielo will also pay transaction fees totaling CDN$600,000. The debentures are subject to a 4-month hold period, ending December 4, 2021.
Cielo Waste Solutions Corp. (OTCQB:CWSFF) has appointed Gregg Gegunde as Chief Operating Officer, bringing over 26 years of experience in the energy sector. His prior roles include Senior Vice President at Penn West Petroleum. Concurrently, Lionel Robins transitions to Senior Vice President of Global Development/Indigenous Relations, while Raphael Bohlmann takes on the role of Senior Vice President of Corporate Development and Investor Relations. Cielo aims to expand its innovative technology that converts waste into renewable fuels, furthering its commitment to environmental sustainability.
Cielo Waste Solutions Corp. provided an update on its Aldersyde and Edmonton facilities. Key initiatives include desulphurization at Aldersyde and achieving a production goal of 24,000 liters per day. The company has begun commissioning desulfurization equipment to lower sulfur content and is seeing increasing production of diesel from wood waste. Cielo is also progressing on its new Edmonton facility, preparing for necessary permitting and engineering setup. Management aims for ongoing revenue growth from these facilities, laying a foundation for expansion over the next 12 to 36 months.
Cielo Waste Solutions Corp. (CSE:CMC)(OTCQB:CWSFF) announced final approval for its shares to list on the TSX Venture Exchange starting June 24, 2021. The trading symbol 'CMC' remains unchanged, and shareholders need not take any action for the transition from the Canadian Securities Exchange (CSE). This move is expected to be seamless, with trading on the CSE concluding on June 23, 2021. CEO Don Allan expressed gratitude to the TSXV for assisting in expediting the listing process.
Cielo Waste Solutions Corp. has received conditional approval to list its common shares on the TSX Venture Exchange (TSXV), with the transition expected to occur shortly. The company plans to voluntarily delist from the Canadian Securities Exchange (CSE) immediately before trading begins on the TSXV, where it will retain its stock symbol 'CMC.' Cielo's CEO, Don Allan, expressed excitement about the move, highlighting its potential to enhance investor access and the company's global presence. The shares will continue to trade on the OTCQB under the symbol 'CWSFF.'
Cielo Waste Solutions Corp. (CSE:CMC)(OTCQB:CWSFF) has announced its agreement to purchase a 60-acre property in Fort Saskatchewan, Alberta, for CAD $13 million. This land features a 31,750 sq ft building and existing infrastructure, which management believes will expedite facility construction and production timelines. Additionally, Cielo secured a CAD $12 million loan from First Choice Financial, with a 6% interest rate and favorable repayment terms. The loan is secured against Cielo's assets, and the company anticipates significant revenue increases upon completion of facility operations.
Cielo Waste Solutions Corp. (CSE: CMC, OTCQB: CWSFF) announced significant changes to its Board of Directors. Three members, Robin Ray, Mel Angeltvedt, and Lionel Robins, resigned for personal reasons, allowing Ryan Jackson to join as a new board member. Jackson brings extensive experience, having led successful business ventures and currently serving as managing director for RAMECO Group. CEO Don Allan expressed gratitude for the outgoing members' contributions and welcomed Jackson, highlighting the company's commitment to addressing global waste issues through innovative renewable fuel technology.