Cielo Waste Solutions Corp Announces Sale of Inactive Assets
Background
Calgary, Alberta, Nov. 28, 2024 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) (“Cielo” or the “Company”) announces the sale of a portion of the Company’s currently inactive assets, and the resulting assignment of a $2.6 million mortgage loan (the “Mortgage Loan”). As previously announced, the Company completed an asset acquisition in November 2023 (the “2023 Acquisition”), pursuant to which the Company acquired, among other items, an exclusive license in Canada to use Expander Energy Inc.’s patented EBTL™ and BGTL™ technologies and related intellectual property for all feedstocks, as well as an exclusive license in the United States for creosote and treated wood waste (the “Licensed Technologies”), which will be used in facilities that will process biomass (waste) to renewable fuels.
Impact on Me
As a consumer, this sale of inactive assets by Cielo Waste Solutions Corp could potentially lead to cost savings and a more efficient operation of the company. With the resulting assignment of a $2.6 million mortgage loan, the company may be able to invest in new technologies or projects that could benefit the environment and the community.
Impact on the World
The sale of inactive assets by Cielo Waste Solutions Corp could have a positive impact on the world by promoting sustainability and the development of renewable fuels. By acquiring exclusive licenses for technologies that process biomass waste into renewable fuels, the company is contributing to the reduction of greenhouse gas emissions and the utilization of waste materials in a more environmentally friendly way.
Conclusion
In conclusion, the sale of inactive assets and the assignment of a $2.6 million mortgage loan by Cielo Waste Solutions Corp represent strategic moves that could have a significant impact on the company’s operations, as well as on the environment and the global community. By focusing on the development of renewable fuels and sustainable technologies, Cielo is positioning itself as a leader in waste solutions and environmental stewardship.
