Cielo Advances Construction of Garbage to High Grade Renewable Diesel Refinery by Closing $883,236 in Third Tranche of Private Placement

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[{"type":"text","content":"Cielo Advances Construction of Garbage to High Grade Renewable Diesel Refinery by Closing $883,236 in Third Tranche of Private PlacementVANCOUVER, BC / ACCESSWIRE / 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 ½ 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.\nTogether 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 a 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.\nCielo'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.\"\nCielo's technology has ...

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