CALGARY, Alberta, March 02, 2026 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC, OTCQB:CWSFF) ("Cielo" or the "Company") is pleased to announce that it has closed its previously announced non‑brokered private placement financing (the "Financing"), which was disclosed on February 11, 2026 in connection with the Company's proposed strategic asset acquisition with Canadian Discovery Ltd. ("CDL").
Pursuant to the Financing, the Company issued 16,666,667 Units at a price of $0.06 per Unit for aggregate gross proceeds of $1,000,000. Each Unit is comprised of one common share of the Company (each, a "Common Share") and one whole Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Common Share at a price of $0.15 per Common Share for a period of 48 months from the date of issuance.
The Financing was completed in accordance with the terms previously announced on February 11, 2026, concurrently with the Company's execution of a binding letter of intent with CDL in respect of the acquisition of certain proprietary project development and evaluation assets (the "Proposed Acquisition").
The Units were offered by way of private placement pursuant to exemptions from the prospectus requirements under applicable Canadian securities laws. All securities issued in connection with the Financing are subject to a statutory hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange"). The Financing received conditional approval but remains subject to final acceptance of the Exchange.
The net proceeds of the Financing are expected to be used for general corporate and working capital purposes and to advance the Company's ongoing project development activities, including work related to the Company's previously disclosed Project Nexus and the Nexus Platform. No proceeds of the Financing will be used to fund the purchase price or consideration payable in ...
