Mr. Ryan Jackson reports

CIELO ANNOUNCES EXTENSION OF DEADLINE TO PAY ROYALTIES

Cielo Waste Solutions Corp. has extended the date by which it is required to pay royalties to July 3, 2024.

Background

In 2018, the company had undertaken an early warrant exercise incentive program, issuing an 8.75-cent fixed-rate royalty for each of the 10,162,500 warrants that were exercised. The deadline to pay the royalties was originally July 3, 2020, which was extended in July, 2020, and again in July, 2022, requiring repayment in January, 2024. The company is pleased to have received the required approval from the holders of the royalties for the extension to July, 2024, allowing the company to focus its resources on the further development of its first commercial waste-to-fuel project in Carseland, Alta.

About Cielo Waste Solutions Corp.

Cielo was incorporated under the Business Corporations Act (British Columbia) on Feb. 2, 2011. Cielo is a publicly traded company with its shares listed to trade on the TSX Venture Exchange under the symbol CMC and on the Frankfurt Exchange under the symbol C36, as well as on the OTC Venture Market (OTCQB) under the symbol CWSFF. The company's strategic intent is to become a leading waste-to-fuel company using economically sustainable technology while minimizing the environmental impact. Cielo has a patented process that can convert waste feedstocks, including organic material and wood derivative waste, to fuel. Having demonstrated its ability to produce diesel and naphtha from waste, Cielo has a business model to construct additional processing facilities. Cielo's objective is to generate value by converting waste to fuel while fuelling the sustainable energy transition.

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