Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) renamed its British Columbia sustainable aviation fuel project to Project Nahoonai and announced plans for an early warrant exercise incentive program, according to a company statement.

The project, previously called Project Nexus, received its new name in consultation with the Lheidli T'enneh First Nation, on whose traditional territory the facility is being developed. Nahoonai is a Dakelh word approved by the First Nation for the project.

The commercial-scale facility is designed to convert forestry residues, railway ties and waste woody materials into sustainable aviation fuel without using food-derived feedstocks. The project incorporates carbon capture and storage technology to capture biogenic CO2 generated during the conversion process.

Cielo's CEO Ryan C. Jackson stated the naming "is a recognition that this project is being built in partnership with the Lheidli T'enneh First Nation, on their territory, and with their support."

The company reported that 9,615,964 warrants expired unexercised as of May 31, 2026. Subject to TSX Venture Exchange approval, Cielo plans to implement an incentive program targeting up to 33,523,323 outstanding warrants issued in July 2025 transactions. These warrants currently allow holders to purchase shares at $0.15 each until July 25, 2027.

Under the proposed 30-day program, holders exercising eligible warrants would receive additional warrants allowing share purchases at $0.075 each for three years from issuance. The program requires exchange approval before implementation.

Project Nahoonai is located in Prince George, British Columbia, and is positioned to qualify for compliance credits under British Columbia's Low Carbon Fuel Standard and Canada's Clean Fuel Regulations.