- AGM to be held on October 27th, 2022 at 10:30 a.m. (Calgary Time)
- Ryan Jackson and Jasdeep K. Dhaliwal removing "interim" executive titles respectively
- Jasdeep K. Dhaliwal and Don Allan retiring from the Board of Directors
- Engagement of IR firm RB Milestone Group extended
CALGARY, AB / ACCESSWIRE / September 21, 2022 / Cielo Waste Solutions Corp. (TSXV:CMC); (OTCQB:CWSFF) ("Cielo" or the "Company"), a waste-to-fuel environmental technology company, is pleased to announce the details for its Annual General Meeting (the "Meeting") of the shareholders, to be held on October 27th, 2022 at 10:30 a.m. Mountain Time/ 9:30 a.m. Pacific Time.
The Meeting will be held by teleconference and shareholders can call in by dialing: 1 (888) 892-3255, toll free.
Update on Management
In June 2022, the Company had announced that Mr. Ryan Jackson and Ms. Jasdeep K. Dhaliwal had been appointed Interim CEO and Interim CFO, respectively. Cielo is pleased to announce that Mr. Jackson and Ms. Dhaliwal have removed the "interim" title for their respective roles and have been formally appointed as CEO and CFO, respectively.
Ryan Jackson, CEO of Cielo, stated, "I am delighted to be continuing to lead Cielo. I am humbled by the confidence that the Board of Directors has placed in Jasdeep and I. Along with our capable team, I look forward to building the Company and realizing our goals of commercialization".
Larry Schafran, Chair of the Board of Directors of Cielo, commented: "On behalf of the Board of Directors, we are confident that in the hands of Mr. Jackson and Ms. Dhaliwal, and the support of the Board and Cielo's advisors, Cielo can focus on its objectives during these coming months to bring us closer to our ultimate goals."
Board Nominees and Changes
Mr. Larry Schafran, Mr. Ryan Jackson, Ms. Sheila Leggett, and the Honourable Peter MacKay have been nominated to the Board, to stand for re-election at the Meeting. Ms. Dhaliwal will not be standing for re-election given her more permanent role as CFO, for corporate governance purposes. In addition, Mr. Don Allan, who is and will remain Founder and Chairman Emeritus, will not be standing for re-election in favour of retirement. However, Mr. Allan will remain available to the Company as needed on an advisory basis.
Mr. Schafran further stated: "I would also like to take this opportunity to thank Mr. Allan, on behalf of the rest of the Board of Directors and the Company, for his long-time service to Cielo in his various capacities over the years. His dedication to Cielo has been an inspiration to us. We are also grateful that Mr. Allan has agreed to continue to serve Cielo during his retirement as an advisor, as well as Founder and Chairman Emeritus".
Extension of IR Firm Engagement
Cielo is also pleased to announce that the Company has extended its engagement of the US-based corporate communications firm, RB Milestone Group LLC ("RBMG"), to provide investor relations services including corporate communications advisory, non-deal roadshow advisory, market intelligence advisory, and business referrals to the management team of the Company. RBMG has been retained for an initial term of 18 months, subject to 12-month auto-renewal periods thereafter until either party terminates the agreement prior to any such period. The services will be provided for cash payment equal to US$10,833 per month. RBMG will not receive any equity-based compensation and is not an investment advisor or broker dealer. RBMG is at arm's length to the Company. The agreement is subject to the approval of the TSXV Venture Exchange.
For further information please contact:
Ryan Jackson, CEO
Phone: (403) 348-2972
Cielo Investor Relations
Email: [email protected]
RB Milestone Group LLC (USA):
Email: [email protected]
New York, NY & Stamford, CT
Founded in 2009, RBMG is a US-based corporate communications firm that specializes in investor relations advisory and has offices in New York City and Stamford, Connecticut. RBMG's US advisory practice delivers investor relations programs tailor-made for emerging companies that are private and publicly traded on the NYSE, NASDAQ, OTC, TSX, TSXV, CSE, ASX and AIM. RBMG refines communications strategies, weighs data and advises clients on how to penetrate new markets. It helps clients target and secure relationships with niche US stakeholders and key industry strategics globally. Utilizing digital techniques, artificial intelligence (AI) and machine learning, RBMG has developed methods that improve traditional client IR initiatives to maximize ROI. RBMG partners with clients across a wide range of industry segments, including: Cannabis; Cleantech; Consumer Goods; Crypto; Fintech; Healthcare; Metals & Mining; Professional Services; Renewable Energy; and Technology. To learn more about RBMG please visit: www.rbmilestone.com
Cielo Waste Solutions Corp. was incorporated under the Business Corporations Act (British Columbia) on February 2, 2011. Cielo is a publicly traded company with its shares listed to trade on the TSX Venture Exchange ("TSXV") under the symbol "CMC," on the Frankfurt Exchange ("DAX") under the symbol "C36", as well as on the OTC Venture Market ("OTCQB"), under the symbol "CWSFF." The Company's strategic intent is to become a leading waste-to-fuel company. The Company intends to use economically sustainable technology while minimizing the environmental impact. Cielo has a patented process that can convert waste feedstocks, including organic material and wood derivative waste, to fuel. Having demonstrated its ability to produce diesel and naphtha from waste, Cielo's business model is to construct additional processing facilities. Cielo's objective is to generate value by converting waste to fuel, while fueling the sustainable energy transition.
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, with respect to, but not limited to: the time, location, forum and call-in details of the Meeting; the building of the Company and realizing goals of commercialization by management; the Company's ability to focus on its objectives and bring the Company closer to its goals with current management; the board nominees for the Meeting and the stepping down by Ms. Dhaliwal and Mr. Allan from the Board of Directors; the engagement of RBMG, including but not limited to the duration of the term, the services to be provided, and the fees payable.
Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR. 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, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV), nor OTCQB nor WKN, have reviewed, and do not accept responsibility for the adequacy or accuracy of, the content of this news release.
SOURCE: Cielo Waste Solutions Corp.