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CALGARY, Alberta, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) (“Cielo” or the “Company”) announces the cancellation and anticipated rescheduling of its annual general meeting of shareholders (the “AGM”) due to the ongoing Canada Post strike, which commenced on November 15, 2024. The Company had scheduled the AGM to be held on December 19, 2024 and had prepared proxy materials (the “Materials”) to this end, however the postal strike announced thereafter has interfered with the Company’s ability to mail the Materials to its shareholders in a timely and efficient manner. Therefore, upon inquiry and review as to the options available to the Company, the Board of Directors of the Company (the “Board”) has determined it to be in the best interest of the Company to cancel the AGM to be held on December 19, 2024, and reschedule the AGM to a later date to ensure that all shareholders of the Company entitled to vote at the AGM (the “Shareholders”) receive the Materials and proper notice for the AGM.
Pursuant to the Business Corporations Act (British Columbia), the Company is required to hold the AGM on or before December 31, 2024 (the “AGM Deadline”), however the Board has determined that rescheduling the AGM for a date on or before the AGM Deadline is not feasible, given the continuing postal strike and mailing requirements. As such, the Company has made application to request an extension so that it may hold the AGM as soon as the Board determines it’s practicable in light of the continuing postal strike and applicable legal requirements. If practicable, the Company intends to reschedule the AGM to occur in January 2025.
Shareholders in the United States are still expected to receive the Materials in the United States and should disregard them.
Further details on the rescheduled AGM will be contained in a new Notice of Meeting and Management Information Circular that will be mailed to the shareholders of the Company as of the new record date and filed on SEDAR+.
ABOUT CIELO
Cielo is fueling renewable change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. We are proud to advance our non-food derived model based on our exclusive licence in Canada for patented Enhanced Biomass to Liquids (EBTL™) and Biomass Gas to Liquids (BGTL™) technologies and related intellectual property, along with an exclusive licence in the US for creosote and treated wood waste, including abundant railway tie feedstock. We have assembled a diverse portfolio of projects across geographic regions and secured the ability to leverage the expertise of proven industry leaders. Cielo is committed to helping society ‘change the fuel, not the vehicle’, which we believe will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol “CMC,” as well as on the OTC Pink Market under the symbol “CWSFF.”