Cielo Announces Results of Annual General Meeting of Shareholders

About this update from Cielo Waste Solutions Corp.

[{"type":"text","content":"Cielo Announces Results of Annual General Meeting of ShareholdersCALGARY, AB / ACCESSWIRE / October 28, 2022 / Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF) (\"Cielo\" or the \"Company\"), a waste-to-fuel environmental technology company, is pleased to announce the results of its annual general meeting of shareholders held virtually by telephone conference (the \"Meeting\") yesterday, October 27, 2022. Shareholders voted in favour of all items put forward by the board of directors and management of Cielo.The following four (4) director nominees were elected at the Meeting: Sheila Leggett, Hon. Peter MacKay, Ryan Jackson, and Larry Schafran (the \"Board\"). Shareholders also appointed KPMG LLP, Chartered Accountants, as auditors of the Company for the ensuing year.Following the Meeting, the Board appointed Sheila Leggett as its Chair. The Board also appointed Larry Schafran, Sheila Leggett and Ryan Jackson as the members of the audit committee (the \"Audit Committee\"), and appointed Larry Schafran Chair of the Audit Committee.In addition, shareholders voted in favour of the Company's amended 10% rolling stock option plan (the \"Plan\"). The Company was required to seek approval of the shareholders following amendments made to the Plan to bring it in line with recent amendments to the policies of the TSX Venture Exchange (the \"Exchange\"), for example to allow for \"cashless exercise\" and \"net exercise\" of options. In addition, pursuant to the policies of the Exchange and the terms of the Plan, the Company is required to seek disinterested shareholder approval for the Plan each year so long as insiders of the Company may be entitled to receive stock options together with any other incentive awards representing more than Ten Percent (10%) of the issued and outstanding common shares of the Company at any time. As the Company also has a fixed non-option incentive plan (the \"Non-Option Plan\") in place that would allow for insiders to receive options together with awards under the Non-Option Plan exceeding Ten Percent (10%) of the issued and outstanding shares of the Company, disinterested shareholder approval was required, sought and obtained. The Plan is subject to the approval of the Exchange.Under the Plan, as at the date of the Meeting, there were 829,256,894 common shares issued and outstanding, which would allow for...

More updates from Cielo Waste Solutions Corp.