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Cielo WasteSolutions Corp (CWSFF) Appoints Andrea Whyte to its Board; Provides MCTO Update

September 15, 2021 6:25 AM EDT

Cielo WasteSolutions Corp. (OTCQB: CWSFF) ("Cielo" or the "Company") announces the appointment of Andrea Whyte to the Board of Directors (the "Board"), effective as of September 9, 2021, and the filing of its Annual Documents (as defined below).

Appointment of Andrea Whyte

Andrea Whyte is a Partner, with Osler, Hoskin & Harcourt LLP ("Osler"). Ms. Whyte's practice focuses on corporate finance, mergers and acquisitions, corporate governance, executive compensation and general corporate matters.

Andrea's leading expertise has been recognized by Chambers, Lexpert, International Financial Law Review (IFLR) and Best Lawyers. Andrea is also a director of several non-profit and private companies.

Ms. Andrea Whyte stated "I am delighted to join the Cielo board and be part of a company focused on providing clean, innovative, renewable energy solutions to address excess waste. I look forward to working with Don Allan and the entire Cielo team."

Don Allan CEO of Cielo stated: "I am pleased and honoured to have Andrea Whyte join our Board. Ms. Whyte will be an active member taking the "Lead Director" role. I look forward to working with Ms. Whyte and welcome her to the Cielo Team."

Update on MCTO

The Company is also providing an update with respect to the previously announced management cease trade order (the "MCTO") issued by the British Columbia Securities Commission (the "BCSC") pursuant to National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"), as announced on August 27, 2021, and subsequently September 7, 2021 (the "Previous News Releases"). The MCTO was issued in connection with the delayed filing of its annual audited financial statements for the year ended April 30, 2021 (the "Financial Statements"), related management discussion and analysis (the "MD&A") and officer certificates (the "Certificates", together with the Financial Statements and the MD&A, collectively the "Annual Documents") on www.sedar.com as required pursuant to applicable securities laws.

The Company has been advised by its auditors that a short additional period of time is required to complete their final review of the Annual Documents. The Company expects to file the Annual Documents no later than September 20, 2021.

The Company currently does not anticipate any delay in filing its interim financial statements, management's discussion and analysis, and the related officer certifications for the three-month period ended July 31, 2021, before its filing deadline pursuant to National Instrument 51-102 - Continuous Disclosure Obligations.

The Company is providing this status update in accordance with NP 12-203. The Company reports that: (i) there are no changes to the information contained in the Previous News Releases that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines set out under NP 12-203 by the issuance of bi-weekly default status reports, in the form of a news release, for so long as the delay in filing the Annual Documents is continuing; (iii) there has not been any other specified default by the Company under NP 12-203 and no such other default is anticipated; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed, other than as disclosed in this news release.



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Board Changes, Corporate News