Cielo Provides Update on the Closing of the Asset Purchase Transaction with Expander Energy Inc.

CALGARY, Alberta, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”), a waste-to-fuel environmental technology company, is pleased to provide an update regarding the closing of its asset purchase transaction (the “Transaction”) with Expander Energy Inc. (“Expander”), which was announced on September 20, 2023. Management has been working with Expander and the TSX Venture Exchange (the “Exchange”) to satisfy the conditions of the Transaction, including the satisfaction of the requirements of the Exchange, and anticipates that the Transaction will close in the coming days. A news release announcing the closing will follow at that time.

Once the Transaction has closed, the Exchange will lift the trading halt that is currently in place as a result of the Transaction, which is considered a “Fundamental Acquisition” under the policies of the Exchange. Details on the lifting of the trading halt will be included in the news release announcing closing.

Cielo Attends 105th Annual Railway Tie Association Symposium and Technical Conference 2023.

Ryan Jackson, Chief Executive Officer of Cielo, attended the 105th Annual Railway Tie Association Symposium and Technical Conference 2023, held in Atlanta, Georgia between October 16^th and 19^th, 2023. Mr. Jackson had the opportunity to attend the various learning sessions and networking opportunities and position Cielo as a viable option for railway tie disposal for Class 1 and short line railroad companies in the United States as well as Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ABOUT CIELO

Cielo Waste Solutions Corp. was incorporated under the Business Corporations Act (British Columbia) on February 2, 2011. Cielo is a publicly traded company with its shares listed to trade on the TSXV under the symbol “CMC,” on the Frankfurt Exchange under the symbol “C36”, as well as on the OTC Venture Market (“OTCQB”), under the symbol “CWSFF.” The Company’s strategic intent is to become a leading waste-to-fuel company using economically sustainable technology while minimizing the environmental impact. Cielo has a patented process that can convert waste feedstocks, including organic material and wood derivative waste, to fuel. Having demonstrated its ability to produce diesel and naphtha from waste, Cielo’s business model is to construct additional processing facilities. Cielo’s objective is to generate value by converting waste to fuel, while fueling the sustainable energy transition.