Cielo Waste closes $1.46M first tranche of financing

Executive Summary

• Cielo Waste Solutions Corp. has closed the first tranche of its non-brokered private placement offering, issuing 29,325,000 units for gross proceeds of $1,466,250.
• The company intends to use the net proceeds for the development and early-stage engineering of its proposed renewable fuels facility in British Columbia (Project Nexus) and to pay approximately $750,000 under a settlement agreement with Expander Energy Inc.
• The offering allows for one or more additional closings on or before November 24, 2025, with all securities subject to a hold period until March 8, 2026.

Key Details

• Transaction Structure: Non-brokered private placement offering of up to 40 million units.
• First Tranche Size: 29,325,000 units issued.
• Price: $0.05 per unit.
• Gross Proceeds: $1,466,250.
• Unit Composition: Each unit consists of one common share and one whole common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.07 per share for a period of two years from the date of issuance.
• Hold Period: All securities issued are subject to a hold period expiring March 8, 2026.
• Regulatory Status: The offering has received conditional approval from the TSX Venture Exchange.
• Finder’s Fees: Aggregate cash fees of $5,500 paid; 40,000 finder options issued.
• Finder Option Terms: Each option entitles the holder to purchase one common share at an exercise price of $0.05 per share for a period of 24 months from the closing date.
• Use of Proceeds:
  • Development and early-stage engineering of the proposed renewable fuels facility in British Columbia.
  • Regulatory and incentive application work.
  • General working capital.
  • Payment of approximately $750,000 under a settlement agreement with Expander Energy Inc. (confirmed as paid in full).
• Future Closings: Cielo may complete one or more additional closings on or before November 24, 2025.

Notable Quotes

• "We believe this financing demonstrates strong investor confidence in our vision," said Ryan C. Jackson, chief executive officer. "We're turning the page from restructuring to growth, with all efforts now directed toward delivering Project Nexus in British Columbia. We see this as a key step toward positioning Cielo at the forefront of the province's clean-fuels economy and supporting Canada's broader low-carbon goals."