CMC(US:CMC) Globenewswire·2026-02-11 12:00Core Viewpoint - Cielo Waste Solutions Corp. has executed a binding letter of intent to acquire proprietary project development and evaluation assets from Canadian Discovery Ltd., marking a significant step in its transition to a scalable clean fuels project development company [1][4] Acquisition Details - The acquisition includes non-public technical and commercial information, databases, models, and intellectual property related to renewable and low carbon fuels production, which will enhance Cielo's project development capabilities [3][4] - The acquisition is expected to close in March 2026, subject to due diligence, regulatory approvals, and customary closing conditions [8][6] Financing Information - A non-brokered private placement financing is planned for aggregate proceeds of $1,000,000 CAD, expected to involve participation from certain principals of CDL and insiders of Cielo [11][14] - The financing will result in the issuance of approximately 16,666,666 units at a price of $0.06 per unit, with each unit comprising one common share and one warrant [12][13] Strategic Implications - The acquisition is intended to conclude Cielo's restructuring phase and enable the company to focus on executing its long-term growth strategy through disciplined project development and capital-efficient execution [4][5] - The integration of the acquired assets is expected to support the ongoing development of Project Nexus and future projects, enhancing Cielo's internal technical and commercial capabilities [4][5] Board Appointment - Following the acquisition, Kaush Rakhit, Executive Chairman of CDL, is expected to be appointed to Cielo's board of directors, bringing extensive experience in project development and governance [9][10] Company Overview - Cielo Waste Solutions Corp. focuses on advancing waste-derived feedstocks into sustainable aviation fuel and other low-carbon energy products, with a disciplined development strategy built around its Nexus Platform [17][18]