VANCOUVER, BC / ACCESSWIRE / September 14, 2021 / Cielo WasteSolutions Corp. (TSXV:CMC)(OTCQB:CWSFF) ("Cielo" or the "Company") announces the appointment of Andrea Whyte to the Board of Directors (the "Board"), effective as of September 9, 2021, and the filing of its Annual Documents (as defined below).
Appointment of Andrea Whyte
Andrea Whyte is a Partner, with Osler, Hoskin & Harcourt LLP ("Osler"). Ms. Whyte's practice focuses on corporate finance, mergers and acquisitions, corporate governance, executive compensation and general corporate matters.
Andrea's leading expertise has been recognized by Chambers, Lexpert, International Financial Law Review (IFLR) and Best Lawyers. Andrea is also a director of several non-profit and private companies.
Ms. Andrea Whyte stated "I am delighted to join the Cielo board and be part of a company focused on providing clean, innovative, renewable energy solutions to address excess waste. I look forward to working with Don Allan and the entire Cielo team."
Don Allan CEO of Cielo stated: "I am pleased and honoured to have Andrea Whyte join our Board. Ms. Whyte will be an active member taking the "Lead Director" role. I look forward to working with Ms. Whyte and welcome her to the Cielo Team."
Update on MCTO
The Company is also providing an update with respect to the previously announced management cease trade order (the "MCTO") issued by the British Columbia Securities Commission (the "BCSC") pursuant to National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"), as announced on August 27, 2021, and subsequently September 7, 2021 (the "Previous News Releases"). The MCTO was issued in connection with the delayed filing of its annual audited financial statements for the year ended April 30, 2021 (the "Financial Statements"), related management discussion and analysis (the "MD&A") and officer certificates (the "Certificates", together with the Financial Statements and the MD&A, collectively the "Annual Documents") on www.sedar.com as required pursuant to applicable securities laws.
The Company has been advised by its auditors that a short additional period of time is required to complete their final review of the Annual Documents. The Company expects to file the Annual Documents no later than September 20, 2021.
The Company currently does not anticipate any delay in filing its interim financial statements, management's discussion and analysis, and the related officer certifications for the three-month period ended July 31, 2021, before its filing deadline pursuant to National Instrument 51-102 - Continuous Disclosure Obligations.
The Company is providing this status update in accordance with NP 12-203. The Company reports that: (i) there are no changes to the information contained in the Previous News Releases that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines set out under NP 12-203 by the issuance of bi-weekly default status reports, in the form of a news release, for so long as the delay in filing the Annual Documents is continuing; (iii) there has not been any other specified default by the Company under NP 12-203 and no such other default is anticipated; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed, other than as disclosed in this news release.
The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their common shares of the Company. The CEO and the CFO pursuant to the MCTO, and the insiders of the Company as imposed by the Company, continue to be under a trading blackout as previously disclosed.
On behalf of the Board of Directors
For further information please contact:
Investor Cubed Inc. (Canada):
RB Milestone Group LLC (USA):
About Cielo Waste Solutions Corp.
Cielo is a publicly traded company with a proprietary technology that transforms certain types of landfill garbage into high-grade diesel, kerosene (aviation jet and marine fuel) and naphtha. Cielo's proven and patented technology is currently being deployed in the Company's Aldersyde, Alberta facility, where wood waste is currently being converted into renewable fuels. Cielo's experienced management team is well positioned with strategic partners in place to expand aggressively across Canada, into the US and then globally. The waste/feedstock that will be used in the Company's green facilities is the world's widely available and inexpensive feedstock, including household, commercial, construction garbage, used tires, railway ties, telephone poles, as well as all types of plastic, some of which currently cannot be recycled or deposited into landfills. Cielo's goal is to manufacture waste to fuel while ridding the world of unwanted and problematic garbage.
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. CIELO is making forward looking statements related to, including but not limited to: the review, completion and filing of the Annual Documents, the timing of the filing of the first quarter interim financial statements, the MCTO and related matters. 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, neither the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise. The CSE, OTCQB and, WKN, have not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
SOURCE: Cielo Waste Solutions Corp.