Cielo Announces Shares for Debt Transactions

Core Viewpoint - Cielo Waste Solutions Corp. plans to settle an aggregate debt of $1,622,413.10 through share issuance, subject to approval from the TSX Venture Exchange [1][4]. Debt Settlement Details - The company has agreements to issue 14,480,856 shares at$0.105 each to settle $1,520,490.67 of the debt [2]. - An additional agreement will be executed with an insider to settle the remaining$101,922.43 by issuing 970,689 shares at the same price [2]. Related Party Transaction - The insider transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, with exemptions from certain requirements due to the transaction's fair market value being below 25% of the company's market capitalization [3]. Approval and Hold Period - The share issuance is pending approval from the Exchange, and once approved, the shares will be subject to a four-month hold period [4]. Correction of Prior Transactions - A correction was made regarding a previous news release about shares for debt transactions, clarifying that the correct share price for settling $25,184 of debt was$0.31, not $0.32 [5]. Company Overview - Cielo is focused on renewable energy, particularly in the wood by-product-to-fuels sector, utilizing patented technologies for biomass conversion [6]. - The company holds exclusive licenses in Canada and the US for specific biomass technologies and has a diverse project portfolio [6].