Cielo Provides Update on Settlement Agreement, Shareholder Meeting and Webinar, and Units for Debt Transactions

About this update from Cielo Waste Solutions Corp.

[{"type":"text","content":"Cielo Provides Update on Settlement Agreement, Shareholder Meeting and Webinar, and Units for Debt Transactions\n\n\n\n CALGARY, Alberta, June 23, 2025 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV: CMC; OTC PINK: CWSFF) (“\n \n Cielo\n \n ” or the “\n \n Company\n \n ”) today provides an update on the Settlement Agreement, Securities for Debt Transactions, and Shareholder Meeting (each as defined below).\n \n\n\n Settlement Agreement\n \n\n\n Cielo had previously announced the execution of a settlement agreement (the “\n \n Settlement Agreement\n \n ”) with Expander Energy Inc. (“\n \n Expander\n \n ”) and certain directors, shareholders and related parties of Expander (collectively and together with Expander, the “\n \n Settlement Parties\n \n ”). The Settlement Agreement provides for the effective unwinding, to the extent possible, of certain previously disclosed transactions (the “\n \n Transactions\n \n ”) completed between Cielo and the applicable Settlement Parties, including Expander, pursuant to and in connection with an amended and restated asset purchase agreement dated November 8, 2023, as amended on September 16, 2024 (the “\n \n APA\n \n ”). The unwinding was expected to take effect on June 13, 2025 (the “\n \n Closing Date\n \n ”), subject to completion of certain closing conditions, including the payment of an aggregate amount of C$748,208.79 (the “\n \n Payment\n \n ”) to the applicable Settlement Parties, including Expander, in full and final satisfaction of all and any outstanding fees owing by the Company. Cielo was unable to make the Payment in accordance with the Settlement Agreement. Cielo has received a notice of breach of the Settlement Agreement from Expander as a result however Cielo continues to make efforts to make the Payment and is in discussions with Expander and the Settlement Parties with respect to the extension of the Closing Date on mutually agreeable terms.\n \n\n\n Shareholder Meeting and Webinar\n \n\n\n As previously disclosed, Cielo’s shareholder meeting (the “\n \n Shareholder Meeting\n \n ”) will be held on Tuesday, June 24, 2025. As the Company has received no advance notice of any other nominations in accordance with Cielo’s...

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