12:12 PM EDT, 05/13/2025 (MT Newswires) -- Cielo Waste Solutions ( CWSFF ) on Tuesday said it is seeking up to $3 million from a private placement of shares units.

The company said it will seek to place up to 60-million units in the financing, with each priced at $0.05 and made up of a share and a two-year warrant to buy a second share for $0.07.

Proceeds will be used for the development and early-stage engineering of the a proposed waste-to-hydrogen facility in British Columbia, including regulatory and incentive application work, as well as general working capital purposes, including the payment of approximately $750,000 under the terms of the settlement agreement.

Cielo shares were last seen up $0.005 to $0.06 on the TSX Venture Exchange.