The following is a summary of the Cielo Waste Solutions Corp. (CWSFF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Cielo Waste Solutions reported total assets of $13.9 million for the period ending October 31, 2023, with total liabilities at $5.3 million, and long-term liabilities of $1.9 million.

• The company had a working capital deficiency of $2.1 million and a net loss of $1.4 million for the three-month period.

• Major transaction in the quarter includes the sale of Fort Saskatchewan property for retirement of the $11 million principal mortgage. Post this period, the company entered into an IP licensing agreement with Expander Energy resulting in 906 million common shares issued for $0.06 with a transaction value of $45 million.

• The company is underway in completing a private placement for flow-through shares of up to $6 million and has secured shareholder approval for a reverse consolidation of shares.

Business Progress:

• Cielo has received multiple grants for their Expander technology, including the Carseland project and the Sustainable Development Technology Canada (SDTC).

• The company earned approval from Alberta Innovates for the Aldersyde feedstock trial, funded by a $0.5 million grant.

• Collaboration with Expander should optimize opportunities for conventional financing for cash flowing projects.

• Applications for expanding the Carseland project is in progress, and another application for the Dunmore project is slated for Q2 of next year.

• Despite the reported working capital deficiency, initial work continues for the Carseland project, with flow-through shares allocated to cover initial engineering costs for project development.

More detailed: CIELO WASTE SOLUTIONS CORP IR

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