Cielo announces nonbrokered private placement

Cielo Waste Solutions Corp., a Canada-based waste-to-fuel environmental technology company, has announced a proposal to complete a flow-through private placement on a nonbrokered basis.  

The placement will advance Cielo’s first commercial waste-to-fuels facility in Carseland, Alberta, which will use the recently acquired EGTL technology under exclusive license to Cielo. The company intends to raise up to CA$6 million ($4.4 million) in gross proceeds by issuing up to 150 million flow-through shares at a price of 2.9 cents per FT share. The gross proceeds from the sale of flow-through shares will be used by the company to incur qualifying Canadian renewable and conservation expenses for the Carseland project.  

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Cielo, a publicly traded company, says it has a strategic intent to become a leading waste-to-fuel company using economically sustainable technology while minimizing environmental impact. Cielo uses a patented process to convert waste feedstocks, including organic material and wood derivative waste, to fuel.