- Cielo Waste Solutions (TSXV: CMC; OTC: CWSFF) failed to make a C$748,208.79 payment under its Settlement Agreement and is negotiating for an extension.
- The company plans to issue 33,523,132 Repayment Units and 5,832,180 common shares to settle C$1,967,766 in debt, awaiting TSX Venture Exchange approval.
- A shareholder meeting is scheduled for June 24, 2025, with incumbent directors up for re-election.
Cielo Waste Solutions Corp. (TSXV: CMC; OTC: CWSFF) has received a breach notice from Expander Energy Inc. following the company's failure to make a required C$748,208.79 payment under their Settlement Agreement. Despite this setback, Cielo continues discussions with Expander to possibly extend the agreement's closing date.
The company also announced plans to issue 33,523,132 Repayment Units and 5,832,180 common shares at $0.05 per unit/share to settle a total debt amount of C$1,967,766. This marks an increase from the previously disclosed debt amount of C$1,797,195. The issuance of these securities is dependent on approval by the TSX Venture Exchange and will be subject to a four-month hold period.
On the corporate governance front, Cielo's upcoming shareholder meeting is set for June 24, 2025. The meeting will see the re-election of the current directors: Ryan Jackson, Sheila Leggett, Peter MacKay, and Larry Schafran. The formal meeting will be followed by a presentation and Q&A session, accessible both in-person and via webcast for registered shareholders.
