Cielo waste solutions provides operations update and announces shares 2018-11-30 electricity japan


As previously announced, in order to operate both steps described above simultaneously, Cielo requires a larger heater system to be installed, which involves the purchase of a second boiler and re-engineering of the first. electricity questions grade 9 Management had previously determined that moving forward with the rest of the commissioning process while addressing financing needs would be the most prudent approach. electricity in salt water experiment Cielo reached the final stage, desulphurization, and is currently choosing between two alternative processes that will result in the ability to sell its high-grade renewable fuels at the highest possible price. electricity vs magnetism As the implementation of the desulphurization equipment will take longer than anticipated due to third party laboratory testing and the proximity of the holiday season, management estimates achieving first sales in Q1 2019.

In the meantime, management has determined that the best way to continue to move the process and timeline forward is to focus on acquiring the second boiler and re-engineering the first, which is currently in progress. victaulic t gasket This will allow both steps described above to run concurrently and facilitate the continuous flow operation of the Refinery. electricity deregulation choices and challenges Management anticipates completing the purchase, manufacturing, installation and commissioning of the second boiler system 6 to 10 weeks after securing financing.

The shares for debt arrangements provide for the settlement of $508,684.40 in funds owing to contractors by the issuance of 2,826,025 common shares at a deemed price of $0.18 per share and $605,833.33 in loans owing to insiders of the Company by the issuance of 3,029,167 common shares at a deemed price of $0.20 per share, being a 20% and 33% premium, respectively, to the Company’s closing price on November 29, 2018. gas gas As management has decided to proceed with the improvement of the heater system and the purchase and installation of the second boiler, the Company is considering a potential private placement offering of securities. gas x tablets himalaya If the Company proceeds, management expects to determine and announce the terms of the offering in the next week.

As certain insiders participated in the shares for debt transactions, it is considered to be a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relies on the exemption from valuation requirement pursuant to subsection 5.5(b) of MI 61-101, as the securities of the Company are not listed or quoted on an enumerated stock exchange, and the Company relies on the exemption from minority approval under subsection 5.7(b) of MI 61-101, as the securities of the Company are not listed or quoted on an enumerated stock exchange; neither consideration received, nor the fair value of the securities distributed exceeds $2,500,000; and at least two thirds of independent directors of the Company, voted in favour of the related party transaction.

Don Allan, President and CEO, stated that, "Although we have encountered a number of challenges in our commissioning process, we have been able to figure out solutions, which are taking time and money to resolve. As is the case with the commissioning of many technologies, as they are scaled up, there are unforeseen and uncontrollable factors that are encountered. Despite the challenges that have arisen, we have continued to advance our technology. We have produced our renewable fuels and are working towards removing the sulphur as quickly as possible but also ensuring that we continue to make the best choices for the technology and Company in the long run, not just with a focus on achieving initial sales. At the same time, we are being proactive in taking the needed next steps to get our Aldersyde refinery operating on a continuous-flow basis, to keep the momentum going and working to enhance shareholder value. Management thanks the trades and insiders for their continued support, their conversion of debt at a premium to market prices demonstrating their belief in and commitment to Cielo and our technology."

Cielo Waste Solutions Corp. is a publicly traded company with its shares listed to trade on the Canadian Securities Exchange ("CSE") under the symbol "CMC". Cielo holds the exclusive license for the global rights to a transformational, patent-pending, technology engineered to convert garbage-derived feedstocks to high grade renewable diesel, at a significantly lower cost than biofuel companies. gas evolution reaction With landfills being one of the world’s leading contributors to Green House Gas emissions and being projected to double in size over the next 7 years, Cielo can potentially resolve this crisis, on a cost-effective basis, by conv