Cielo Announces Shares for Debt Transactions
Cielo Waste Solutions (TSXV:CMC; OTC:CWSFF) has announced plans to settle $1,622,413.10 in debt through share issuances. The company will issue 15,451,545 common shares at $0.105 per share, subject to TSX Venture Exchange approval.
The settlement includes two components: 14,480,856 shares to settle $1,520,490.67 with various creditors, and 970,689 shares to settle $101,922.43 with a company insider. The insider transaction falls under MI 61-101 regulations but is exempt from valuation and minority shareholder approval requirements as it represents less than 25% of the company's market capitalization.
All issued shares will be subject to a 4-month hold period. The company also corrected a previous announcement from April 29, 2024, regarding prior debt settlements, noting the share price should have been stated as $0.31 instead of $0.32.
Cielo Waste Solutions (TSXV:CMC; OTC:CWSFF) ha annunciato piani per risolvere debiti per un totale di $1,622,413.10 tramite emissioni di azioni. L'azienda emetterà 15,451,545 azioni ordinarie a $0.105 per azione, soggette all'approvazione della TSX Venture Exchange.
La soluzione comprende due componenti: 14,480,856 azioni per risolvere $1,520,490.67 con vari creditori e 970,689 azioni per risolvere $101,922.43 con un insider dell'azienda. La transazione con l'insider rientra nelle normative MI 61-101 ma è esente dai requisiti di valutazione e approvazione da parte degli azionisti di minoranza, poiché rappresenta meno del 25% della capitalizzazione di mercato dell'azienda.
Tutte le azioni emesse saranno soggette a un periodo di blocco di 4 mesi. L'azienda ha anche corretto un precedente annuncio del 29 aprile 2024 riguardante precedenti risoluzioni di debito, sottolineando che il prezzo delle azioni avrebbe dovuto essere indicato come $0.31 invece di $0.32.
Cielo Waste Solutions (TSXV:CMC; OTC:CWSFF) ha anunciado planes para saldar $1,622,413.10 en deuda a través de emisiones de acciones. La empresa emitirá 15,451,545 acciones comunes a $0.105 por acción, sujeto a la aprobación de TSX Venture Exchange.
El acuerdo incluye dos componentes: 14,480,856 acciones para saldar $1,520,490.67 con varios acreedores, y 970,689 acciones para saldar $101,922.43 con un insider de la empresa. La transacción con el insider se encuentra bajo las regulaciones MI 61-101, pero está exenta de los requisitos de valoración y aprobación por parte de los accionistas minoritarios, ya que representa menos del 25% de la capitalización de mercado de la empresa.
Todas las acciones emitidas estarán sujetas a un período de retención de 4 meses. La empresa también corrigió un anuncio anterior del 29 de abril de 2024, sobre resoluciones de deuda previas, señalando que el precio de las acciones debería haberse indicado como $0.31 en lugar de $0.32.
시엘로 웨이스트 솔루션즈 (TSXV:CMC; OTC:CWSFF)는 주식 발행을 통해 $1,622,413.10의 부채를 해결할 계획을 발표했습니다. 이 회사는 TSX 벤처 거래소의 승인을 조건으로 $0.105의 가격으로 15,451,545주를 발행할 예정입니다.
이번 부채 해결은 두 가지 구성 요소로 나뉩니다: 다양한 채권자와의 $1,520,490.67를 해결하기 위해 14,480,856주, 회사 내부자와의 $101,922.43를 해결하기 위해 970,689주입니다. 내부자 거래는 MI 61-101 규정에 해당하지만, 회사의 시장 자본의 25% 미만을 차지하므로 평가 및 소수주주 승인 요건에서 면제됩니다.
발행된 모든 주식은 4개월의 보유 기간이 적용됩니다. 또한 회사는 2024년 4월 29일의 이전 발표를 수정하여, 이전 부채 해결에 대해 주가를 $0.32가 아니라 $0.31로 명시해야 했다고 밝혔습니다.
Cielo Waste Solutions (TSXV:CMC; OTC:CWSFF) a annoncé des plans pour régler une dette de 1,622,413.10 $ par le biais d'émissions d'actions. L'entreprise émettra 15,451,545 actions ordinaires à 0,105 $ par action, sous réserve de l'approbation de la TSX Venture Exchange.
Le règlement comprend deux composants : 14,480,856 actions pour régler 1,520,490.67 $ avec divers créanciers, et 970,689 actions pour régler 101,922.43 $ avec un insider de l'entreprise. La transaction avec l'initié est soumise aux réglementations MI 61-101 mais est exemptée des exigences d'évaluation et d'approbation des actionnaires minoritaires puisqu'elle représente moins de 25 % de la capitalisation boursière de l'entreprise.
Toutes les actions émises seront soumises à une période de blocage de 4 mois. L'entreprise a également corrigé une annonce précédente du 29 avril 2024 concernant les règlements de dette précédents, notant que le prix de l'action aurait dû être fixé à 0,31 $ au lieu de 0,32 $.
Cielo Waste Solutions (TSXV:CMC; OTC:CWSFF) hat Pläne angekündigt, Schulden in Höhe von $1,622,413.10 durch die Emission von Aktien zu begleichen. Das Unternehmen wird 15,451,545 Stammaktien zu je $0.105 ausgeben, vorbehaltlich der Genehmigung der TSX Venture Exchange.
Die Regelung umfasst zwei Komponenten: 14,480,856 Aktien, um $1,520,490.67 mit verschiedenen Gläubigern zu begleichen, und 970,689 Aktien, um $101,922.43 mit einem Insider des Unternehmens zu begleichen. Die Insider-Transaktion fällt unter die Regelungen MI 61-101, ist jedoch von den Bewertungs- und Genehmigungsverfahren durch Minderheitsaktionäre befreit, da sie weniger als 25% der Marktkapitalisierung des Unternehmens ausmacht.
Alle ausgegebenen Aktien unterliegen einer 4-monatigen Haltedauer. Das Unternehmen hat auch eine frühere Bekanntmachung vom 29. April 2024 in Bezug auf frühere Schuldenregelungen korrigiert und darauf hingewiesen, dass der Aktienkurs mit $0.31 und nicht mit $0.32 angegeben werden sollte.
- None.
- Company is settling $1.62M debt through share issuance, indicating cash flow constraints
- Share issuance at $0.105 will result in 15.45M new shares, causing dilution for existing shareholders
- Related party transaction with insider suggests potential corporate governance concerns
CALGARY, Alberta, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) (“Cielo” or the “Company”) announces the anticipated settlement of an aggregate
The Company has executed agreements with certain of its creditors to issue 14,480,856 of the Repayment Shares at a price of
The Shares for Debt Transaction with the Insider (the “Insider Transaction”) is considered to be a “related party transaction” under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transaction (“MI 61-101”). The Company has relied upon the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5 (a) and 5.7(1) (a), as the fair market value of the Insider Transaction does not exceed
The Shares for Debt Transactions are subject to the approval of the Exchange. Upon approval and issuance, the Repayment Shares will be subject to a hold period of 4 months.
The Company also would like to make a correction to a news release issued on April 29, 2024 regarding prior shares for debt transactions (the “Prior Transactions”) for the settlement of
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT CIELO
Cielo is fueling renewable change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. We are proud to advance our non-food derived model based on our exclusive licence in Canada for patented Enhanced Biomass to Liquids (EBTL™) and Biomass Gas to Liquids (BGTL™) technologies and related intellectual property, along with an exclusive licence in the US for creosote and treated wood waste, including abundant railway tie feedstock. We have assembled a diverse portfolio of projects across geographic regions and secured the ability to leverage the expertise of proven industry leaders. Cielo is committed to helping society ‘change the fuel, not the vehicle’, which we believe will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol “CMC,” as well as on the OTC Pink Market under the symbol “CWSFF.”
For further information please contact:
Cielo Investor Relations
Ryan Jackson, CEO
Phone: (403) 348-2972
Email: investors@cielows.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.
Forward-looking statements are subject to both known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Cielo is making forward-looking statements, including but not limited to with respect to: the terms of the Shares for Debt Transactions, including but not limited to the number of Repayment Shares to be issued, the share price, and the agreement to be executed with the Insider of the Company.
Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR+. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
FAQ
How many shares is Cielo Waste Solutions (CWSFF) issuing to settle its debt in January 2025?
What is the price per share for CWSFF's January 2025 debt settlement?
How much debt is being settled with insiders in CWSFF's January 2025 share issuance?
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