Cielo Waste Solutions Grants Incentive Stock Options
Vancouver, British Columbia -- June 5, 2020 -- NewsGenie -- Cielo Waste Solutions Corp. (CSE:CMC) (CNSX:CMC.CN) (OTC:CWSFF) has granted 5,450,000 incentive stock options to its directors, officers, employees, and consultants. These options, approved at the October 29, 2019 shareholders meeting, are exercisable at $0.10 per share, vest immediately, and expire on June 5, 2023.
The grant follows the expiration of 5,500,000 options in late 2019, bringing the total outstanding stock options to 10,190,000.
Cielo Waste Solutions, based in Alberta, Canada, focuses on converting landfill garbage into renewable fuels like diesel and kerosene. Their technology is being deployed at their Aldersyde, Alberta facility, which currently converts wood waste. The company plans to expand across North America and globally, including Joint Venture projects in Alberta and Nova Scotia. Each JV Facility is projected to cost approximately $50 million. Cielo will be the general contractor and operator of all the proposed JV Facilities.
The feedstock includes household, commercial, construction, and demolition garbage, used tires, railway ties, telephone poles, and non-recyclable plastics.
Don Allan, President/CEO/Director of Cielo Waste Solutions Corp.