Cielo Announces Relocation of First Planned Facility to British Columbia and Provides Update on Proposed Asset Acquisition and Corporate Matters

Core Viewpoint - Cielo Waste Solutions Corp. is undergoing a strategic shift by relocating its first planned waste-to-fuel facility from Alberta to British Columbia and transitioning its fuel production focus from Renewable Diesel to Green Hydrogen, aligning with its commitment to renewable energy initiatives [2][3][4] Group 1: Strategic Changes - The company plans to relocate its first commercial waste-to-fuel facility for processing scrap railway ties to British Columbia and will focus on producing Green Hydrogen [2] - This strategic pivot allows Cielo to explore funding opportunities through the British Columbia Low Carbon Fuel Standard (BCLCFS) credit program, which provides financial incentives for reducing carbon emissions [3] - Cielo's CEO emphasized the importance of adapting to changing political and technological landscapes to ensure resources are dedicated to projects with the highest potential for success [4] Group 2: Acquisition Update - Cielo announced it will not proceed with the previously proposed acquisition of an Enhanced Gas to Liquids (EGLT) facility in Carseland, Alberta, due to ongoing market uncertainty and regulatory challenges [5][7] - The company had intended to enhance the process at the EGLT Facility and diversify inputs for synthetic diesel and jet fuel but has determined that the acquisition does not align with its long-term strategic goals [6][7] Group 3: Dispute Resolution - Cielo is initiating a dispute resolution process with Expander Energy due to disagreements regarding the Asset Purchase Agreement and License Agreement [11] - Expander has issued notices of breach, indicating intentions to terminate the License Agreement, which Cielo plans to dispute [12] Group 4: Corporate Governance - James H. Ross has resigned from Cielo's Board of Directors, effective immediately, and the company expressed gratitude for his contributions [14] - Cielo has rescheduled its annual general meeting to June 2025 due to a Canada Post strike, having received an extension from the Business Corporations Act [15] Group 5: Future Engagement - A corporate update webinar is scheduled for April 10, 2025, to provide shareholders and stakeholders with updates on the company's strategic initiatives and future outlook [16]