CIELO WASTE SOLUTIONS CRP - CWSFF STOCK NEWS

Cielo Waste Solutions Corp. (OTCQB: CWSFF) announced significant updates on December 16, 2021, including operational progress at its Aldersyde and Fort Saskatchewan facilities. The company successfully terminated royalty and refinery fees with 1888711 Alberta Inc., improving its earnings potential. Additionally, founder Don Allan will retire on February 1, 2022, with Sheila A. Leggett joining the board. A conference call is scheduled for December 22, 2021, to discuss fiscal Q2 2022 results and operational updates.

Cielo Waste Solutions Corp. (OTCQB:CWSFF) announced a significant agreement with 18887711 Alberta Inc., terminating their previous partnership. Under this agreement, Cielo will issue 10 million common shares to 1888, granting Cielo exclusive rights to patented technology enabling waste-to-fuel production. This strategic move is expected to enhance earnings by removing Royalty and Refinery Fees obligations, thus simplifying operations and clarifying rights to technology. The agreement awaits TSX Venture Exchange approval, with closure planned for December 3, 2021.

Cielo Waste Solutions Corp. announces an operational update detailing progress at its Aldersyde Facility and plans for a new R&D facility in Fort Saskatchewan, Alberta. The company aims to enhance production through process modifications, focusing on achieving steady-state production of diesel and naphtha from waste. Key milestones include engineering design commencement in August 2021, with procurement and construction slated for late 2021 and early 2022, respectively. The anticipated commissioning of the Aldersyde Facility is targeted for April 2022, promoting future revenue generation.

Cielo Waste Solutions Corp. (CWSFF) held its annual general and special meeting on October 21, 2021, where shareholders approved all proposals from the board. The elected directors include Don Allan, Jasdeep K. Dhaliwal, Hon. Peter MacKay, Ryan Jackson, and Larry Schafran. Shareholders also approved a 10% rolling stock option plan and a fixed non-option incentive plan, allowing the issuance of up to 65,212,991 stock options and 25,807,096 incentive awards. Management stated no undisclosed material change affecting market activity has occurred, with an operational update expected by November 15, 2021.

Cielo WasteSolutions Corp. (CWSFF) reported its Q1 2022 financial results on September 28, 2021, showing total assets increased by $1.2 million, driven by construction activities. Total liabilities decreased by $8.2 million, enhancing working capital to a surplus of $5.1 million. However, the net loss rose to $3.0 million, an increase attributed mainly to heightened general and administrative expenses and intensified research and development activities. The company’s ongoing growth initiatives reflect its strategic focus on renewable fuel production.

Cielo WasteSolutions Corp. (CWSFF) plans to release its fiscal Q1 2022 financial statements on September 28, 2021, followed by a conference call on September 29 at 8:00 a.m. MT. Key executives including CEO Gregg Gegunde will discuss the company's performance and future outlook. Cielo specializes in converting waste into renewable fuels using proprietary technology at its Alberta facility, contributing to sustainable waste management. The company aims to expand its operations across North America and globally, addressing a significant environmental challenge.

Cielo Waste Solutions Corp. has appointed Mr. Gregg Gegunde as CEO while retaining Mr. Don Allan as President and Chair. This management change aims to bolster growth as the company transitions to large-scale commercialization of its waste-to-diesel technology. Cielo is on track to achieve operational milestones, including the start-up of its desulfurization unit and enhancements at its Aldersyde facility. The company plans to file its Q1 fiscal results on September 28, 2021, followed by a conference call on September 29, 2021, to discuss the developments.

Cielo Waste Solutions Corp. announced the resignation of two directors, Ms. Andrea Whyte and Mr. George H. Brookman, from its board. The company expressed gratitude for their contributions and wished them well in future endeavors. Cielo, known for its proprietary technology converting waste into renewable fuels, continues to operate its facility in Aldersyde, Alberta. This leadership change may bring new perspectives to the company's strategy as it aims to expand its waste-to-fuel operations throughout Canada and the U.S.

Cielo WasteSolutions Corp. (CWSFF) filed its annual audited financial statements for the year ending April 30, 2021, reporting total assets increased by $24.8 million to $45.2 million, driven by a $17.1 million cash rise. Non-current liabilities decreased by $7.7 million. However, the company reported a net loss of $39.7 million, significantly higher than the previous year's $4.2 million, primarily due to a $28.5 million non-cash fair value change in warrant liability. The management remained committed to improving performance amid a management cease trade order (MCTO) related to the delayed filing.