New Risk • Jun 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Negative equity (-CA$1.7m). Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$14.7m market cap, or US$10.4m). Announcement • May 28
Cielo Waste Solutions Corp. Provides Update on British Columbia SAF Project, Renames It Project Nahoonai, and Integrates Carbon Capture and Storage Cielo Waste Solutions Corp. had provided an update on its flagship sustainable aviation fuel ("SAF") project located in British Columbia, which has been renamed Project Nahoonai, and confirmed the integration of carbon capture and storage ("CCS") into the project design to deliver a SAF product with what the Company expects to be the lowest carbon intensity profile of any commercial-scale SAF project currently advancing in North America. The Company’s British Columbia SAF project, previously referred to as Project Nexus, has been renamed Project Nahoonai. The name is a Dakelh word selected in consultation with, and approved by, the Lheidli T’enneh First Nation, on whose traditional territory the project is being developed. Project Nahoonai is a commercial-scale SAF project that does not rely on food-derived feedstocks such as corn, soy, canola, or used cooking oils. The project is intended to convert sustainable forestry residues, including harvest, mill, and forestry residuals, together with used railway ties and other waste woody materials, into a high-value, low-carbon transportation fuel. Project Nahoonai is being designed with integrated CCS, capturing the biogenic CO2 generated during the conversion process and permanently storing it. The result will be a carbon-negative SAF product positioned as a compliance fuel under British Columbia’s Low Carbon Fuel Standard ("LCFS") and Canada’s Clean Fuel Regulations ("CFR"). Under the LCFS and CFR, each tonne of CO2 captured and permanently stored generates additional credit value, materially strengthening the project’s economics relative to conventional SAF pathways. Prince George offers a competitive advantage that few SAF locations in North America can match in management’s view, with concentrated sawmill and pulp infrastructure, an established forestry workforce, year-round rail and highway access, and proximity to deep-water export through the Port of Prince Rupert. Announcement • Apr 17
Cielo Waste Solutions Corp. Appoints Kaush Rakhit as Director Cielo Waste Solutions Corp. announced that in connection with the closing of the acquisition of certain proprietary project development and evaluation assets from CDL Biofuels Ltd., Kaush Rakhit has been appointed to the board of directors of the Company. Announcement • Apr 16
Cielo Waste Solutions Corp. (TSXV:CMC) completed the acquisition of Certain proprietary project development and evaluation assets from Canadian Discovery Ltd. Cielo Waste Solutions Corp. (TSXV:CMC) signed a letter of intent to acquire Certain proprietary project development and evaluation assets from Canadian Discovery Ltd. for approximately CAD 1.126 million on February 10, 2026. As part of the consideration, Cielo will pay an amount equal to approximately CAD2.6 million as full consideration for the Assets by issuing 17,333,333 common shares of Cielo at a per share price of $0.15 per share to or as directed by CDL, as follows: 10,000,000 Consideration Shares to be issued upon closing, subject to a statutory 4 month hold period in addition to a subsequent, consecutive 8 month hold period for an aggregate hold period of 12 months from closing (the “12 Month Hold”); and 7,333,333 Consideration Shares to be issued on closing, also subject to the 12 Month Hold, and deposited into escrow with the Company’s transfer agent, Olympia Trust Company, to be released on an earn-out basis within 36 months of the closing of the Proposed Acquisition on and subject to the performance of certain milestones to be set out in the APA. CDL and the CDL Principals will be subject to standstill provisions with respect to the Consideration Shares as well as the Units issued under the Financing (each as defined below) for a period of 24 months from closing of the Proposed Acquisition. The Purchase Price is subject to finalization following the completion of the due diligence review contemplated in the LOI however is not expected to vary.
The transaction is subject to, among other things, completion of due diligence, finalization and execution of the APA, satisfaction of customary closing conditions and receipt of all required corporate and regulatory approvals, including the approval of the Exchange to the extent required, which is anticipated to close in March 2026.
Cielo Waste Solutions Corp. (TSXV:CMC) completed the acquisition of Certain proprietary project development and evaluation assets from Canadian Discovery Ltd. on April 15, 2026.
Kaush Rakhit, Executive Chairman and majority shareholder of Canadian Discovery Ltd, has been appointed to the board of directors of Cielo Waste Solutions Corp. Cielo Waste Solutions Corp also intends to appoint two Canadian Discovery Ltd. Executives, Robert Pockar and Matthew Scorah, as Chief Operating Officer and Chief Development Officer, respectively. The effective dates of such appointments will be announced upon the completion of their employment agreements and Board of Director approval. Announcement • Mar 02
Cielo Waste Solutions Corp. announced that it has received CAD 1 million in funding from Canadian Discovery Ltd. On March 2, 2026, Cielo Waste Solutions Corp. closed the transaction. Transaction involves participation of Canadian Discovery Ltd and certain insiders of the Company. No finder’s fees were paid in connection with the Financing. Announcement • Feb 13
Cielo Waste Solutions Corp. (TSXV:CMC) signed a letter of intent to acquire Certain proprietary project development and evaluation assets from Canadian Discovery Ltd. for approximately CAD 1.126 million. Cielo Waste Solutions Corp. (TSXV:CMC) signed a letter of intent to acquire Certain proprietary project development and evaluation assets from Canadian Discovery Ltd. for approximately CAD 1.126 million on February 10, 2026. As part of the consideration, Cielo will pay an amount equal to approximately CAD2.6 million as full consideration for the Assets by issuing 17,333,333 common shares of Cielo at a per share price of $0.15 per share to or as directed by CDL, as follows: 10,000,000 Consideration Shares to be issued upon closing, subject to a statutory 4 month hold period in addition to a subsequent, consecutive 8 month hold period for an aggregate hold period of 12 months from closing (the “12 Month Hold”); and 7,333,333 Consideration Shares to be issued on closing, also subject to the 12 Month Hold, and deposited into escrow with the Company’s transfer agent, Olympia Trust Company, to be released on an earn-out basis within 36 months of the closing of the Proposed Acquisition on and subject to the performance of certain milestones to be set out in the APA. CDL and the CDL Principals will be subject to standstill provisions with respect to the Consideration Shares as well as the Units issued under the Financing (each as defined below) for a period of 24 months from closing of the Proposed Acquisition. The Purchase Price is subject to finalization following the completion of the due diligence review contemplated in the LOI however is not expected to vary.
The transaction is subject to, among other things, completion of due diligence, finalization and execution of the APA, satisfaction of customary closing conditions and receipt of all required corporate and regulatory approvals, including the approval of the Exchange to the extent required, which is anticipated to close in March 2026. Announcement • Feb 12
Cielo Waste Solutions Corp. announced that it expects to receive CAD 1 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement to issue 16,666,666 units at a price of CAD 0.06 per Unit for gross proceeds of CAD 999,999.96 on February 11, 2026. Each Unit is comprised of one common share and one whole Common Share purchase warrant (each, a "Warrant") of the Company, each Warrant entitling the holder thereof to purchase one Common Share at a price of CAD 0.15 per Common Share for a period of forty-eight (48) months from the date of issuance. Closing of the Financing is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Exchange. No finder's fees will be paid in connection with the Financing. All securities issued in connection with the Financing will be subject to a hold period of four months plus one day from the date of issuance and applicable securities legislation. Announcement • Feb 11
Cielo Waste Solutions Corp. announced that it expects to receive CAD 1 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement for issuance of 16,666,666 units at a price of CAD 0.06 unit for gross proceeds of CAD 999,999.96 on February 11, 2026. Each unit is comprised of one common share and one whole common share purchase warrant, each warrant entitling the holder thereof to purchase one common share at a price of CAD 0.15 per common share for a period of forty-eight months from the date of issuance. The transaction will include participation from certain principals of Canadian Discovery Ltd., and certain insiders of the company. Closing of the financing is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Exchange. No finder's fees will be paid in connection with the Financing. All securities issued in connection with the Financing will be subject to a hold period of four months plus one day from the date of issuance and applicable securities legislation. New Risk • Dec 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$623k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$623k free cash flow). Share price has been highly volatile over the past 3 months (32% average weekly change). Negative equity (-CA$4.1m). Earnings have declined by 8.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.5m market cap, or US$9.79m). New Risk • Dec 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (32% average weekly change). Negative equity (-CA$4.2m). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$18.9m market cap, or US$13.5m). New Risk • Nov 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (32% average weekly change). Negative equity (-CA$4.2m). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$25.6m market cap, or US$18.2m). Announcement • Oct 14
Cielo Waste Solutions Corp., Annual General Meeting, Dec 18, 2025 Cielo Waste Solutions Corp., Annual General Meeting, Dec 18, 2025. Announcement • Oct 09
Cielo Waste Solutions Corp. announced that it expects to receive CAD 2 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement financing of up to 40,000,000 units at a price of CAD 0.05 per Unit for gross proceeds of CAD 2,000,000 on October 9, 2025. Each Unit is comprised of one common share of the Company and one whole Common Share purchase warrant of the Company, each Warrant entitling the holder thereof to purchase one Common Share at a price of CAD 0.07 per Common Share for a period of two (2) years from the date of issuance. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. While the Offering is non-brokered, the Company may pay finder's fees in cash or securities to certain arm's length finders engaged in connection with the Offering, subject to the approval of the Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus one day from the date of issuance and applicable securities legislation. New Risk • Aug 31
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$6.0m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$6.0m). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (CA$13.9m market cap, or US$10.1m). Announcement • Aug 19
Cielo Waste Solutions Corp. announced that it has received CAD 1.12125 million in funding On August 18, 2025, Cielo Waste Solutions Corp. closed the transaction. The company announced that it has closed the second and final tranche of up to 4,700,000 units at a price of CAD 0.05 per Unit for gross proceeds of CAD 235,000. Each Unit is comprised of one common share and one whole Common Share purchase warrant each Warrant entitling the holder thereof to purchase one Common Share at a price of CAD 0.07 per Common Share for a period of two (2) years from the date of issuance. Together with the first tranche closing, under the Offering an aggregate 22,425,000 Units were issued for gross proceeds of CAD 1,121,250. The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued under the Final Tranche are subject to a hold period expiring December 16, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange"). The Offering has received conditional approval from the Exchange. No finder fees were paid in connection with, and no Insiders (as that terms is defined by the policies of the Exchange), participated in the Final Tranche. New Risk • Jul 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$11.2m market cap, or US$8.06m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Chairman Sheila Leggett was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 13
Cielo Waste Solutions Corp. announced that it expects to receive CAD 3 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement that it will issue up to 60,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of up to CAD 3,000,000 on May 13, 2025. Each Unit is comprised of one common share of the Company and one whole Common Share purchase warrant of the Company, each Warrant entitling the holder thereof to purchase one Common Share at a price of CAD 0.07 per Common Share for a period of 2 years from the date of issuance. Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. While the Offering is non-brokered, the Company may pay finder's fees in cash or securities to certain arm's length finders engaged in connection with the Offering, subject to the approval of the Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus one day from the date of issuance and applicable securities legislation. Announcement • Apr 24
Cielo Waste Solutions Corp., Annual General Meeting, Jun 10, 2025 Cielo Waste Solutions Corp., Annual General Meeting, Jun 10, 2025. Location: alberta, calgary Canada Announcement • Apr 03
Expander Energy Requisitions Annual General and Special Meeting to Replace Directors at Cielo Waste Solutions On April 1, 2025, Expander Energy Inc. requisitioned the board of directors of Cielo Waste Solutions Corp. to call an annual general and special meeting of shareholders for the principal purpose of removing each of the 4 incumbent directors, namely Ryan Jackson, Sheila Leggett, Peter MacKay, and Larry Schafran, and electing 5 new directors, namely Larry B. Haggar, Nick Lenstra, John G. F. McLeod, James H. Ross, and G. Steven Price. New Risk • Nov 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.82m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.6m free cash flow). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.8m market cap, or US$9.82m). New Risk • Sep 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$5.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.6m free cash flow). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$19.8m market cap, or US$14.6m). Announcement • Aug 27
Cielo Waste Solutions Corp., Annual General Meeting, Oct 29, 2024 Cielo Waste Solutions Corp., Annual General Meeting, Oct 29, 2024. New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$24.5m market cap, or US$17.9m). Announcement • Jun 24
Cielo Waste Solutions Corp. announced that it expects to receive CAD 2.87 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement of 2,870 unsecured convertible debenture units at a price of CAD 1,000 per convertible debenture unit for gross proceeds of up to CAD 2,870,000 on June 24, 2024. Each convertible debenture unit will be comprised of one unsecured convertible debenture in the principal amount of CAD 1,000 convertible into common shares of the company and each such common Share and 2,500 detachable share purchase warrants exercisable into common shares. The minimum subscription amount will be CAD 20,000. The Principal amount of the debentures, together with any accrued and unpaid interest, will mature and become due and payable in cash on the date that is 24 months from the date of issue of the convertible debenture units, subject to earlier conversion or redemption. The Principal amount owing under the debentures will accrue interest from the date of issuance at 12% per annum on a 30/360 calendar basis, payable every six months in cash, except the first payment will be made in November 2024 and will consist of interest accrued from and including the Issue Date. The Principal amount may be converted, for no additional consideration, into conversion shares at the option of the holder of a convertible debenture at any time after the issue date at a conversion price of CAD 0.40 per conversion share. Each warrant will entitle the holder thereof to purchase one warrant share at a price of CAD 0.70 per warrant share for a period of 24 months from the issue date. The company intends to close the Private Placement in one or more tranches throughout June and July 2024. Completion of the Private Placement is subject to the receipt of all required regulatory approvals, as applicable, including the approval of the Exchange. Finder's fees of cash and/or non-transferrable warrants may be paid in connection with the Private Placement in accordance with applicable laws. The Debentures and Warrants, as well as Conversion Shares and Warrant Shares, will be subject to a statutory hold period expiring on the date that is four months and one day after the corresponding issue date. Announcement • Apr 30
Cielo Waste Solutions Corp. Confirms Key Equipment Order and Environmental Permit Application, Advancing the Company’s Carseland Bio-SynDiesel Project Towards Commercialization Cielo Waste Solutions Corp. announced that it has ordered a Biomass Gasifier (the “Gasifier”), a key piece of equipment required to continue driving its Carseland, Alberta project (the “Carseland Project”) towards commercialization, and has submitted an environmental permit application to Alberta Environment and Protected Areas (AEPA) for the project’s construction. The Carseland Project is Cielo’s first commercial by-product-to-fuels facility designed to convert wood by-products into low carbon intensity renewable Bio-SynDiesel fuel (“Bio-SynDiesel”) and Sustainable Aviation Fuel Bio-SynJet (“Bio-SynJet”), which is targeting first commercial production in 2026. Once complete, the Carseland Project is projected to produce eight million liters per year of Bio-SynDiesel and Bio-SynJet, exemplifying Cielo’s commitment to changing the fuel, not the vehicle, and creating sustainable fuel that does not rely on food competitive inputs. Cielo has submitted a full and comprehensive environmental permit application to Alberta Environment and Protected Areas (AEPA) for approval to construct the Carseland Project under the Environmental Protection and Enhancement Act (EPEA). Cielo is well positioned to leverage its early mover advantage in tandem with the Company’s prime location, existing infrastructure and the team’s proven operational capabilities. Engineering and procurement activities will continue in parallel with the environmental review process so that Cielo is ready to break ground upon receiving regulatory approval, while working towards a final investment decision in third quarter of 2024. Announcement • Feb 22
Cielo Waste Solutions Corp. announced that it expects to receive CAD 5 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement of 5,000 unsecured convertible debenture units at a price of CAD 1,000 per Convertible Debenture Unit for targeted gross proceeds of up to CAD 5,000,000 on February 22, 2024. Each convertible debenture unit will be comprised of one unsecured convertible debenture in the principal amount of CAD 1,000.00 convertible into common shares of the company and 2,500 detachable share purchase exercisable into common shares. The minimum subscription amount will be CAD 20,000. The principal amount may be converted, for no additional consideration, into conversion shares at the option of the holder of a convertible debenture at any time after the issue date at a conversion price of CAD 0.40 per conversion share. Each warrant will entitle the holder thereof to purchase one warrant share at a price of CAD 0.70 per warrant share for a period of 24 months from the issue date. The company intends to close the private placement in one or more tranches throughout February and early March. Completion of the private placement is subject to the receipt of all required regulatory approvals, as applicable, including the approval of the Exchange. Announcement • Dec 07
Cielo Waste Solutions Corp. announced that it expects to receive CAD 6 million in funding Cielo Waste Solutions Corp. announced a non-brokered private placement of up to 150,000,000 flow-through shares at a price of CAD 0.04 per share for the gross proceeds of CAD 6,000,000 on December 7, 2023. It is anticipated that the closing of the Private Placement will occur in one or more tranches on or before December 31, 2023. The closing of the private placement is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The company anticipates that one or more officers and/or directors of the company may participate in the private placement, the company may pay finders’ fees in connection with the private placement in cash, securities or a combination of both. All of the securities issued or issuable pursuant to the private placement will be subject to a hold period expiring four months and one day after the date of issuance. New Risk • Dec 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 103% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.5m free cash flow). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$50.4m market cap, or US$37.4m). Board Change • Nov 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Peter MacKay is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 28
Cielo Waste Solutions Corp. Announces Impairment Charges for the Three Months Ended July 31, 2023 Cielo Waste Solutions Corp. announced impairment charges for the three months ended July 31, 2023. For the period, the company announced impairment loss on the FS Property of $2.7 million (due to a condition of sale) compared to the impairment recognition related to property, plant and equipment of $25.4 million in 2022. New Risk • Aug 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.0m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 47% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (CA$36.4m market cap, or US$26.9m). Announcement • Aug 19
Cielo Waste Solutions Corp., Annual General Meeting, Oct 26, 2023 Cielo Waste Solutions Corp., Annual General Meeting, Oct 26, 2023. New Risk • Jul 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.0m free cash flow). Earnings have declined by 47% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (CA$41.0m market cap, or US$31.0m). Announcement • Jun 16
Cielo Waste Solutions Corp. to Report Fiscal Year 2023 Results on Jun 20, 2023 Cielo Waste Solutions Corp. announced that they will report fiscal year 2023 results After-Market on Jun 20, 2023 Announcement • May 25
Cielo Waste Solutions Corp. (TSXV:CMC) entered into an agreement to acquire PLAN 2111314 BLOCK 3 LOT 1 EXCEPTING THEREOUT ALL MINES AND MINERALS from Renewable U Energy Inc. Cielo Waste Solutions Corp. (TSXV:CMC) entered into an agreement to acquire PLAN 2111314 BLOCK 3 LOT 1 EXCEPTING THEREOUT ALL MINES AND MINERALS from Renewable U Energy Inc. for CAD 5.2 million on May 23, 2023. The transaction is subject to consummation of due diligence, Approval of the Offer by Cielo Waste Solutions's Board and Obtaining Financing. The transaction is expected to close on August 1, 2023. SEAN FREDERICK of DLA Piper (Canada) LLP acted as legal advisor to Renewable U Energy. DARREN E. FOLKERSEN of Niblock & Company LLP acted as legal advisor to Cielo Waste Solutions. Announcement • Dec 20
Cielo Waste Solutions Corp. announced that it expects to receive CAD 5 million in funding from Crestmont Investments LLC Cielo Waste Solutions Corp. announced private placement of secured convertible notes for up to an aggregate principal amount of up to CAD 5 million with new investor Crestmont Investments LLC on December 19, 2022. Under the terms of the financing, which is subject to due diligence by Crestmont and acceptance by the TSX Venture Exchange. Security of the Notes will be subordinated security interests in the R&D Facility assets and all intellectual property and rights owned by Cielo. The notes will bear simple interest at a rate of 12.0% per annum on outstanding principal amounts, and will accrue and be payable upon maturity or at conversion. Maturity shall occur 18 months from issuance of the Notes, subject to earlier conversion by Crestmont or redemption by the company. Investor will be entitled to convert the principal portion then-outstanding of the Notes into units on or before the maturity date at CAD 0.25 per share. Each unit will consist of one common share of company and one common share purchase warrant, each Warrant exercisable for a period of three years from the date of issuance into one common share of the company at an exercise price of CAD 0.35 CAD per share. The company will have the option to pay accrued and unpaid Interest when due in readily available funds or by issuing common shares of Cielo at Market Price at the time of settlement and subject to the prior approval of the TSXV. No fees or commissions will be payable by company to Crestmont or any other party in connection with the Financing. The Financing is subject to customary closing conditions, including the approval of the TSXV. The financing is expected to close within 30 days from the satisfactory completion of the due diligence review. The due diligence review is expected to be completed by January 31, 2023. All securities issued in connection with the Financing will be subject to statutory hold periods in accordance with applicable securities legislation. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Peter MacKay is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Cielo Waste Solutions Corp. Announces Board and Board Committee Changes The board of Cielo Waste Solutions Corp. appointed Sheila Leggett as its Chair. The Board also appointed Larry Schafran, Sheila Leggett and Ryan Jackson as the members of the audit committee and appointed Larry Schafran Chair of the Audit Committee. Announcement • Oct 07
Cielo Waste Solutions Corp. Reports Impairment Loss for the Three Months Ended July 31, 2022 Cielo Waste Solutions Corp. reported impairment loss for the three months ended July 31, 2022. For the period, the company reported impairment loss of $25,366,000. Announcement • Aug 06
Cielo Waste Solutions Corp., Annual General Meeting, Oct 12, 2022 Cielo Waste Solutions Corp., Annual General Meeting, Oct 12, 2022. Announcement • Jul 16
Cielo Waste Solutions Corp. Announces the Appointment of Ryan Carruthers as Executive Vice President, Operations Cielo Waste Solutions Corp. announced the appointment of Ryan Carruthers as Executive Vice President, Operations. Mr. Carruthers has been employed with Cielo since August of 2021. He has 22 years of oil and gas experience in leadership and operational roles, with a track record of successful process optimization and operational excellence while working with energy sector leaders. Announcement • Jul 09
Cielo Waste Solutions Corp. has completed a Composite Units Offering in the amount of $9.775 million. Cielo Waste Solutions Corp. has completed a Composite Units Offering in the amount of $9.775 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 139,642,856
Price\Range: $0.07
Discount Per Security: $0.005
Security Name: Unit Shares
Security Type: Common Stock
Securities Offered: 139,642,856
Security Name: Warrant
Security Type: Equity Warrant
Securities Offered: 139,642,856
Security Name: Units
Security Type: Equity/Derivative Unit
Price\Range: $0.07
Discount Per Security: $0.00245 Price Target Changed • Apr 27
Price target decreased to CA$1.25 Down from CA$1.40, the current price target is provided by 1 analyst. New target price is 410% above last closing price of CA$0.24. Stock is down 72% over the past year. The company posted a net loss per share of CA$0.11 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director Jasdeep Dhaliwal is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions Derivative • Jan 08
CEO & COO exercised options to buy CA$192k worth of stock. On the 31st of December, Gregg Gegunde exercised options to buy 833k shares at a strike price of around CA$0.20, costing a total of CA$167k. This transaction amounted to 417% of their direct individual holding at the time of the trade. Since September 2021, Gregg has owned 200.00k shares directly. Company insiders have collectively sold CA$7.0m more than they bought, via options and on-market transactions in the last 12 months. Board Change • Jan 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Founder, President & Director Don Allan is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Chairman & President Don Allan is the most experienced director on the board, commencing their role in 2013. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 15
Chairman & President recently bought CA$98k worth of stock On the 13th of October, Donald Allan bought around 170k shares on-market at roughly CA$0.58 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Donald has been a net seller over the last 12 months, reducing personal holdings by CA$6.2m. Board Change • Oct 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Chairman & President Don Allan is the most experienced director on the board, commencing their role in 2013. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 11
Independent Director Chris Dovbniak has left the company On the 7th of September, Chris Dovbniak's tenure as Independent Director ended after 6.7 years in the role. As of June 2021, Chris still personally held 512.58k shares (CA$528k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Sep 11
Independent Director Douglas MacKenzie has left the company On the 7th of September, Douglas MacKenzie's tenure as Independent Director ended after 8.3 years in the role. As of June 2021, Douglas still personally held 500.00k shares (CA$515k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Aug 06
Cielo Waste Solutions Corp. announced that it has received CAD 14 million in funding On August 4, 2021, Cielo Waste Solutions Corp. closed the transaction. The company received CAD 4,000,000 in its second and final tranche. The debentures are subject to a statutory 4-month hold period expiring on December 4, 2021. Recent Insider Transactions • Jul 22
Chief Operating Officer recently sold CA$1.5m worth of stock On the 13th of July, Lionel Robins sold around 1m shares on-market at roughly CA$1.49 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$3.7m. Lionel has been a seller over the last 12 months, reducing personal holdings by CA$1.9m. Recent Insider Transactions • Jun 17
Chairman recently sold CA$3.7m worth of stock On the 9th of June, Donald Allan sold around 4m shares on-market at roughly CA$0.92 per share. This was the largest sale by an insider in the last 3 months. Donald has been a seller over the last 12 months, reducing personal holdings by CA$6.3m. Recent Insider Transactions Derivative • May 14
Chairman exercised options to buy CA$154k worth of stock. On the 6th of May, Donald Allan exercised options to buy 200k shares at a strike price of around CA$0.25, costing a total of CA$50k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since June 2020, Donald's direct individual holding has increased from 15.91m shares to 25.57m. Company insiders have collectively sold CA$2.7m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Apr 28
Chairman exercised options to buy CA$2.0m worth of stock. On the 23rd of April, Donald Allan exercised options to buy 2m shares at a strike price of around CA$0.20, costing a total of CA$446k. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. Since June 2020, Donald's direct individual holding has increased from 15.91m shares to 23.34m. Company insiders have collectively sold CA$2.7m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Apr 21
Insider recently sold CA$270k worth of stock On the 13th of April, Stuart McCormick sold around 250k shares on-market at roughly CA$1.08 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$1.4m. Insiders have been net sellers, collectively disposing of CA$2.7m more than they bought in the last 12 months. Recent Insider Transactions • Apr 01
Independent Director recently sold CA$185k worth of stock On the 24th of March, Melvin Angeltvedt sold around 200k shares on-market at roughly CA$0.93 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$1.4m. Insiders have been net sellers, collectively disposing of CA$2.5m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Mar 16
Chairman exercised options to buy CA$2.4m worth of stock. On the 11th of March, Donald Allan exercised options to buy 2m shares at a strike price of around CA$0.10, costing a total of CA$200k. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. Since March 2020, Donald's direct individual holding has increased from 15.91m shares to 23.42m. Company insiders have collectively sold CA$2.0m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 16
Chairman recently sold CA$1.4m worth of stock On the 10th of March, Donald Allan sold around 1m shares on-market at roughly CA$1.34 per share. This was the largest sale by an insider in the last 3 months. Donald has been a seller over the last 12 months, reducing personal holdings by CA$1.8m. Announcement • Mar 11
Cielo Waste Solutions Announces Entry into United States and Expands Canadian Territories Cielo Waste Solutions announced that it has entered into a Memorandum of Understanding dated March 8, 2021 with Renewable U Energy Inc. (RUEI). The MOU provides for Cielo to build, and commission, at no cost to Cielo other than internal costs, three (3) waste to high-grade renewable fuel facilities, one each in Winnipeg, Manitoba, Kamloops, British Columbia and a high-volume location to be determined in the United States. Each Territory includes a radius of 250 km from the outer boundary of the named municipality. Pursuant to the terms of the MOU, RUEI is required to pay a Joint Venture Fee of CAD 250,000 per Territory, CAD 750,000 in aggregate. Cielo confirms receiving a deposit of CAD 250,000. The balance is expected to be delivered on or before March 31, 2021. Cielo and REUI intend to enter into one or more definitive agreements forming the joint ventures contemplated in the MOU within 30 days of Cielo producing continuously 24 hours a day, 7 days a week for 60 days, a minimum of 500 litres per hour of renewable fuel from garbage at the Company's facility in Aldersyde, Alberta. The execution of this MOU was a culmination of negotiations between Cielo and RUEI over approximately the past two years. Cielo has previously announced entry into substantially similar memorandums of understanding with affiliates of RUEI as well as Seymour Capital Incorporated. Cielo has been advised by the principals of RUEI that, in order to accelerate and streamline funding of the Territories and the territories set out in the Existing MOUs, RUEI has acquired all of the rights and obligations of SCI related to its Existing MOU related to the territory of Calgary, Alberta, as well as SCI's option to acquire a territory in the Province of Ontario. A joint venture resulting from the MOU would result in RUEI being responsible for fully funding the facilities in each of the eight JV Territories, at an estimated beginning cost of CAD 50 Million per facility. RUEI would also be required to pay a management fee of 7% to Cielo on all capital expenditures related to the project costs for the first facility in each Territory including a markup of 30% on the catalyst used in Cielo's proprietary process of converting garbage to high-grade renewable fuel. The terms of the MOU are similar in nature to the Existing MOUs. Recent Insider Transactions • Mar 11
Chairman recently sold CA$207k worth of stock On the 4th of March, Donald Allan sold around 205k shares on-market at roughly CA$1.01 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$236k. Donald has been a seller over the last 12 months, reducing personal holdings by CA$408k. Recent Insider Transactions • Feb 27
Independent Director recently sold CA$76k worth of stock On the 23rd of February, Melvin Angeltvedt sold around 200k shares on-market at roughly CA$0.38 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$201k. Insiders have been net sellers, collectively disposing of CA$302k more than they bought in the last 12 months. Is New 90 Day High Low • Feb 18
New 90-day high: CA$0.24 The company is up 158% from its price of CA$0.095 on 19 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 17% over the same period. Is New 90 Day High Low • Feb 11
New 90-day high: CA$0.24 The company is up 140% from its price of CA$0.10 on 12 November 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 22% over the same period. Recent Insider Transactions • Jan 23
Chairman recently sold CA$201k worth of stock On the 19th of January, Donald Allan sold around 2m shares on-market at roughly CA$0.082 per share. This was the largest sale by an insider in the last 3 months. This was Donald's only on-market trade for the last 12 months. Announcement • Sep 30
Cielo Waste Solutions Corp. announced that it has received CAD 4.694642 million in funding On September 28, 2020, Cielo Waste Solutions Corp. closed the transaction. The company issued 1619 Units for proceeds of CAD 1,619,000 in its tenth tranche closing including 12,142,500 warrants and 10,407,857 prepaid interest shares bringing the total units issued to 4,694.64 for gross proceeds raised so far in the transaction CAD 4,694,642. Pursuant to the tenth tranche, the company issued 974,400 finder warrants and paid CAD 123,920 in cash commissions. Announcement • Sep 10
Cielo Announces its Facility Aldersyde, Alberta Back into Production Cielo Waste Solutions Corp. announced that its first commercial facility in Aldersyde, Alberta ("Facility") is in production following an extended shut-down to allow for the implementation of upgrades. Despite challenges related to COVID-19, Cielo's contractors have been working or approximately the past 170 days to recommence continuous-flow production at the Facility. On August 11, 2020, Cielo's operators began re-commissioning the Facility after installing newly designed equipment and implementing modifications to the flow process recommended by third party engineers to resolve problematic bottlenecks that were restricting production.