December 2017

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Cielo Waste Solutions Inc. becomes a member of the 8020 Community

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Cielo Corporate Update

Cielo Advances Construction By Closing $883,236 In Third Tranche of Private Placement
2017-09-22

Cielo Advances Construction Of Garbage To High Grade Renewable Diesel Refinery By Closing $883,236 In Third Tranche of Private Placement

Vancouver, British Columbia, Canada / September 22, 2017 / CSE:CMC: Cielo Waste Solutions Corp. ("Cielo" or the "Company") is pleased to announce the closing of the third tranche of the Company's private placement of up to $3,000,000 (the "Private Placement"). A total of $883,236 was raised in the third tranche by way of the issuance of 8,832,360 ("Units") at $0.10 per Unit. Each Unit is comprised of 1 common share and one ˝ warrant, with each full warrant ("Warrant") having an exercise price of $0.20 and an expiration date of twelve months from the date of issue of the Units. The term of the Warrants is subject to earlier expiration if Cielo's Common Shares trade at $0.30 or above, for 5 consecutive days, at any time after 14 weeks from the date of issue of the Units, in which case Cielo will have the right to issue a notice to the holders of the Warrants that the term has been reduced to 30 days from the date of such notice. Any Warrants that have not been exercised, on or before such 30-day period, will automatically expire.

Together with the first and second tranche closings on July 17, 2017 and August 31, 2017 respectively, the Company has raised $2,283,236 to date ($1,048,236 of which was settlement for debt). In connection with the third tranche of the Private Placement, Cielo paid $33,600 in cash commissions. All securities issued pursuant to the Private Placement will be subject to a statutory four-month hold period. The net proceeds from all three tranches are being used to continue with the construction of Cielo's first commercial waste to energy refinery as well as for general working capital. The Company anticipates closing one additional tranche of the Private Placement on or before October 5th, 2017 by issuing additional Units on the same terms.

Cielo's President and CEO, Don Allan, stated "We continue to make significant progress retrofitting our demonstration plant into our first commercial waste to energy refinery that is being constructed on our High River property. Closing this tranche of funding brings us that much closer to being in a position to commission our first refinery that is engineered to produce high grade renewable diesel."

Cielo's technology has been proven to work in the Company’s demonstration refinery ("Demo Refinery") utilizing multiple different waste feedstock streams, including municipal solid waste, tires, plastics and wood waste converting all of them, on a cost-effective basis, into high grade renewable diesel fuel, in batches of up to 50 liters an hour. Having been granted a development permit from the MD of Foothills #31 municipal district, which is subject to customary conditions, Cielo has applied to the Alberta provincial regulator for a permit to build and operate the refinery. Cielo is now in the process of converting its Demo Refinery into about a 356 liter per hour (2.9 million liter per year) continuous flow refinery. Once Cielo validates that the retrofitted refinery can operate on a continuous flow basis, Cielo plans to scale up the size of its refineries to produce about 2,000 liters an hour (16 million liters a year) of high grade renewable diesel and build multiple modular refineries around the world, offsetting landfills and other feedstock supplies. Cielo intends to focus initially on building additional refineries in Alberta to fill the Canadian mandated demand for renewable diesel, almost all of which is currently having to be imported into Canada, due to the high feedstock costs and product quality issues being experienced by Canadian bio-diesel producers. In the coming months and years, Cielo's goal is to replace as much as possible of the imported mandated demand, of about 650 million liters a year, with its high grade renewable fuel.