Cielo Provides Update on Proposed Acquisition and Announces Investor Summit Presentation

About this update from Cielo Waste Solutions Corp.

Cielo Provides Update on Proposed Acquisition and Announces Investor Summit Presentation THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, March 26, 2026 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”) is pleased to provide an update to its previously announced binding letter of intent dated February 9, 2026 (the “LOI”) with Canadian Discovery Ltd. (“CDL”), as previously announced on February 10, 2026, in respect of Cielo’s proposed acquisition (the “Proposed Acquisition”) of certain proprietary project development and evaluation assets (the “Assets”). The Company has entered into an amendment to the LOI dated March 25, 2026 (the “Amendment”). The Company is also pleased to announce that its Chief Executive Officer, Ryan C. Jackson, will participate in a webcast presentation at the Lytham Partners 2026 Industrials & Basic Materials Investor Summit on April 1, 2026. Additional details are provided below. Amendment Terms The LOI originally contemplated the closing of the Proposed Acquisition to occur prior to March 31, 2026 (the “Outside Date”); however, due to certain administrative matters, including customary pre-closing structuring steps to be completed by CDL as contemplated by the LOI, the parties have agreed that a short period of additional time is required to complete the process. As a result, the Outside Date has been extended to April 15, 2026. The Amendment also clarifies that CDL will remain responsible for the seller’s obligations unless and until a subsidiary entity is formed and becomes the seller under the definitive asset purchase agreement.Based on the positive progress of the parties’ due diligence process, which is nearing completion, and the parties’ continued alignment, including the identification of potential synergies that support future growth and development initiatives, Cielo and CDL have agreed to eliminate the escrow previously contemplated for a portion of the consideration shares. As a result, all consideration shares are expected to be issued on closing, subject to applicable statutory resale restrictions and an aggregate 12-month hold perio...

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