08:30 AM EDT, 05/16/2025 (MT Newswires) -- Cielo Waste Solutions ( CWSFF ) on Friday announced the anticipated settlement of a roughly $1.8 million debt amount through the issuance of its securities, subject to approval by TSX Venture Exchange.

As previously announced on January 21, the company had entered into agreements with certain arm's length creditors to complete shares for debt transactions. These transactions did not close, as announced on April 30, and the company said it is focused on completing securities for debt transactions with the creditors with respect to their outstanding balances under revised and commercially reasonable terms.

The company plans to issue a total of around 35.9 million units to the creditors at a price of $0.05 per unit, to settle around $1.6 million of the total debt amount. Each unit is made up of one common share of the company and one whole two-year common share purchase warrant to buy a common share at a price of $0.15.

Th company said it plans to settle the balance of the aggregate debt amount, which is $125,535.79, with an insider of the company by issuing around 2.5 million common shares, at a price of $0.05 per common share and no warrants will be issued to the insider.

The company added that the units for debt transactions and the shares for debt transaction are subject to the approval of the TSXV and upon approval and issuance, the repayment securities will be subject to a hold period of 4 months.