Cielo Waste Solutions
Ticker: CMC.CN / CWSFF
Listings: Canadian Securitites Exchange / US OTC
Market Cap: 419 MCAD at time of posting
Share price: 1.19 CAD at time of posting
Industry: Converting waste to renewable fuel
After a truly flying start for Cielo Waste Solutions in 2021 the company keeps delivering. It was announced by Cielo Waste Solutions on the evening of 15/3 2021 that the company has applied for a listing of its shares for trading on the TSX Venture Exchange (“TSXV”).
ESG comment: This step, if fullfilled, will be another big quality stamp for the company and make it easier for institutional buyers to take a stake in Cielo Waste Solutions. It also opens up for wider capital injection opportunities for the company since institutional shareholders often have access to larger capital streams. Cielo Waste Solutions is also sure to get a lot of media and investor attention upon successfull listing at the TSX Venture Exchange (“TSXV”) !
Don Allan, President and CEO of Cielo Waste Solutions stated “This year has begun extremely well for Cielo. From our first pre-sale of renewable fuel, to better than expected preliminary results in desulphurization tests, we’ve had an amazing start to 2021, and this uplisting to a larger stock exchange is just one more step in our business plan to make Cielo world class. We believe that joining the TSXV opens new doors for Cielo with respect to capital markets and exposure.” Mr. Allan continued “The Canadian Securities Exchange has been a great way to access the Canadian public capital markets and has provided Cielo the opportunity to get to the commercial phase of our waste to renewable fuel technology at our fully operating commercial facility in Aldersyde, Alberta. We now feel ready for the next evolutionary step to join a world class exchange that we expect will bring more awareness to the Company.”
A disclaimer was also issued in conjuction with this press release :
“Completion of the listing on the TSXV is subject to the satisfaction of listing requirements and the approval of the TSXV. There is no assurance that the TSXV will approve the listing application or that Cielo will complete the listing as contemplated. In the meantime, Cielo’s shares will continue to trade on the Canadian Securities Exchange under the ticker symbol “CMC”. Further updates will be provided as they become available.”
ESG Comment: Cielo Waste Solutions remains as my largest position in the portfolio and I’m confident that the company is on a positive path towards commercial success even more so after this breakthrough which will give the company access to larger and more differentiated ways to finance the rapid expansion towards 40 facilities in North America.
Link to original press release:
This is not to be considered financial advise, always do your own research!
Don’t forget to subscribe to this blog by pressing “follow” to receive news update as soon as they’re published!