Cielo Announces Effective Date of Share Consolidation
Highlights:
Further to Cielo's news release on January 16, 2024, Cielo has received approval from the TSX Venture Exchange for its 1:15 share consolidation
The Consolidation will be effective at market open on January 29, 2024
There is no change to the Company’s name and Cielo will continue to trade under the symbol "CMC" on the Exchange
Cielo's new CUSIP will be 17178G302 and ISIN will be CA17178G3026
As a result of the Consolidation, the number of outstanding common shares of the Company will be reduced from 1,699,540,548 to 113,302,703, subject to rounding adjustments
No fractional post-Consolidation shares will be issued, and no cash will be paid in lieu of fractional post-Consolidation common shares
The exercise or conversion price and/or the number of shares issuable with respect to any of the Company's outstanding convertible securities will be proportionately adjusted following the Consolidation
Letters of transmittal will be sent by mail to registered shareholders for use in transmitting their share certificates to Cielo’s registrar and transfer agent, Olympia Trust Company, in exchange for new certificates
Presenters: Cielo's Ryan Jackson, CEO and Ryan Carruthers, Executive VP, Operations with Gord Crawford, President and COO of Expander Energy
Agenda: Mr. Jackson, Mr. Carruthers and Mr. Crawford provide important updates on Cielo and Expander's recent transaction, a review of recent achievements and upcoming milestones.
Cielo Waste Solutions owns an exclusive license in Canada for patented Enhanced Biomass to Liquids (EBTL™) and Biomass Gas to Liquids (BGTL™) technologies and related intellectual property, and an exclusive license in the US for creosote and treated wood waste, including abundant railway tie feedstock. Cielo has assembled a diverse portfolio of projects across geographic regions and secured the ability to leverage the expertise of proven industry leaders. The Company is committed to the goal of producing renewable fuels from wood waste that contribute to a cleaner fuel source.
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