Cielo Waste Solutions
Ticker: CMC.CN / CWSFF
Listings: Canadian Securitites Exchange / US OTC
Market Cap: 324 MCAD at time of publication
Share price: 0.92 CAD at time of publication
Industry: Converting waste to renewable fuel
Cielo Waste Solutions on 24/3 has announced additions to management as well as being informed by its Joint Venture partner RUEI on their funding of the Dunmore Facility. The full memo received by Cielo from its partner RUEI can be found in this press release. Highlights as stated below:
Ongoing funding of Medicine hat (Dunmore) facility
RUEI confirms it is comittment to funding current engineering costs at the Dunmore facility and expect to arrange payment this week. RUEI will continue to advance funds as is required for the facility project.
Lionel Robins has accepted a position as Chief Operating Officer and Raphael Bohlmann has accepted a role as VP of marketing with Cielo Waste Solutions. Both individuals have resigned from their active roles in RUEI to become a more active part of the daily operations in Cielo Waste solutions and their resignations from RUEI thankfully eliminates potential conflicts of interest between RUEI and Cielo. The new roles are effective as of april 1st 2021.
Both Lionel and Raphael have extensive experience from business development and entrepreneurship. Breifly it should be said that Mr Bohlmann , having studied strategic marketing at Stanford University, has a long experience from running a marketing business and several franchises. Lionel Robins started his first automotive dealership in 2006 which is now in 6 locations across Canada. His other business holdings have included oil and gas industry service companies, hotel properties, a professional education and development business, and several commercial real estate holdings. Mr. Robins served 2 terms on the STARS Air Ambulance Board of Directors, and also served as Chair of the 2018 Alberta Summer Games in Grande Prairie, Alberta. Their full background can be viewed in the press release. Raphael Bohlmann will only retains his seat as director of RUEI.
Don Allan CEO of Cielo Waste Solutions was pleased with the additions stated in the news release “The addition of these two gentlemen bring a tremendous amount of experience and passion to our leadership team and reduce my workload so I may
focus on more pressing matters to ensure the growth of the company. This change also eliminates any
potential conflicts with Mr. Robins and Mr. Bohlmann between Cielo and RUEI.”
As of March 6, 2021, Ryan Jackson has been named new CEO of RUEI and Murray Trollope has been named CFO. Jeff Seymour, principal of Seymour Capital Ltd., which has been acquired by RUEI as previously announced, also joins the board of directors of RUEI.
ESG Comment: It is with both anticipation and excitement to see that Cielo’s projects are progressing as planned and that
the management team is getting strong additions while also removing potential conflicts of interest. I plan on interviewing the new additions to management as soon as possible so that the investor community can get a better understanding of what they bring to Cielo Waste Solutions.
I own shares in these companies personally and this is not to be considered financial advise, always do your own research!
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