- Cielo Waste Solutions Corp (TSXV: CMC; OTC PINK: CWSFF) addresses misleading press release by Expander Energy Inc.
- Expander seeks shareholder approval to become a 'Control Person' of Cielo.
- Cielo reschedules corporate update webinar and retains Norton Rose Fulbright Canada LLP as legal advisor.
Cielo Waste Solutions Corp (CMC, CWSFF) released a statement on April 10, 2025, countering claims made by Expander Energy Inc. in an April 6 press release. Cielo accuses Expander of material misstatements, including misleading attributions of third-party statements to Cielo and presenting opinions as facts, which Cielo categorically rejects as inaccurate.
The company expressed concerns over Expander's motives, particularly regarding the unusual requisition submitted by Expander to become a 'Control Person' of Cielo, which was disclosed in a previous press release on April 2. Cielo views this request as concerning and indicative of Expander's intentions.
Moreover, Cielo highlights that Expander raised issues with the financial statements from October 31, 2023, only in its recent press release, despite these statements being publicly available since December 15, 2023. Cielo is actively taking steps to protect its interests and those of its shareholders, with legal support from Norton Rose Fulbright Canada LLP.
Cielo's CEO, Ryan C. Jackson, urges all shareholders, including Expander, to engage in constructive dialogue for the betterment of the company. The company has postponed a previously scheduled corporate update webinar, with new details to be announced at a later date.
Cielo continues to commit to its mission of transforming waste materials into renewable fuels, aiming to lead in the wood by-product-to-fuels industry while contributing to a circular economy.
