Cielo Announces Closing of CDN$10M Non-Brokered Convertible Debenture Financing and Conversion to Shares
ACCESSWIRE
VANCOUVER, BC / ACCESSWIRE / May 3, 2021 / Cielo Waste Solutions Corp. (CSE:CMC)(OTCQB:CWSFF) (
Cielo or the
Company ) is pleased to announce the completion of the Company s non-brokered, convertible debenture financing, as previously announced on March 3, 2021, receiving gross proceeds of CDN$10,000,000 (the
Financing ).
Cielo issued 10,000 non-interest-bearing, unsecured convertible debentures (the
Debentures ), each issued at CDN$1,000 per Debenture, on a prospectus-exempt basis, the principal amount of the Debentures being convertible into common shares at $1.02 per share during the 12 month term of the Debenture.
Cielo is pleased to announce that all of the Debentures have been converted following issuance at $1.02 per share. First Choice Financial ( FCF ), the arm s length third party with whom Cielo had entered into the binding letter of intent an
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