Cielo announces grant of stock options, restricted stock units and deferred stock units
VANCOUVER, BC / ACCESSWIRE / December 31, 2021 / Cielo Waste Solutions Corp. (TSXV: CMC) (OTCQB: CWSFF) (“Cielo” or the “Company”) is pleased to announce that it has granted a total of 26,573,197 incentive stock options (“Options”) to certain directors, officers, employees, 5,500,000 restricted stock units (“RSUs”) to its officers and 2,100,000 deferred share units (“DSUs”) to its directors (the “grants”).
The options were granted under the Company’s movable stock option plan and the PSUs and DSUs were granted in accordance with the Company’s non-option fixed incentive plan (collectively the “Plans”), both of which have been granted. approved at annual general and special meetings of the company. General meeting of shareholders held on October 21, 2021.
Each option can be exercised for one common share at C $ 0.20. The options will vest at variable times between the grant date and December 31, 2024 and will expire, unless terminated or exercised earlier, on December 31, 2026. PSUs will vest at variable times between the date of grant and December 31. 2023 and are payable in cash or in common shares, at the discretion of the Company, upon acquisition. DSUs are payable in cash or in common shares, at the discretion of the Company, on the later of the following dates: (i) the holder ceases to be a director of the Company; and (ii) 12 months after the holder becomes a director of the Company (except for a reason, as defined in the plans, in which case the DSUs will not vest).
As Cielo is still in pre-income development mode, liquidity conservation remains a priority, which must be balanced by providing an attractive and competitive opportunity for employees, officers and directors. In order to help achieve this balance, Cielo’s stock-based compensation components, such as options, restricted stock units and deferred stock units, form an integral part of the Company’s overall compensation. . All Cielo employees, who meet performance expectations after the three-month trial period, regardless of level, have been given options, in order to create an inclusive and egalitarian culture. This aims to improve alignment between employees and directors with external stakeholders and shareholders, while enabling Cielo to attract and retain high quality employees. The Company believes that incentive bonuses represent an important tool in the face of a tight labor market and growing inflation like the current environment, while also allowing Cielo to preserve its working capital and continue to advance marketing.
About Cielo Waste Solutions Corp.
Cielo was incorporated under the Business Corporations Act (British Columbia) on February 2, 2011. Cielo is a publicly traded company whose shares are listed on the TSX Venture Exchange (“TSXV”) under the symbol “CMC”, as well as on the OTC Venture Market (“OTCQB”), under the symbol “CWSFF”.
Cielo’s strategic intention is to become one of the leading waste management companies in Canada using its environmentally friendly and economically sustainable technology. Cielo has developed a process that can convert waste raw materials, including plastics, rubber, organics and wood-derived waste into fuel. Cielo’s business model is to source raw materials from a wide variety of potential suppliers and convert the raw materials into fuels for sale to a wide variety of potential buyers. The Company plans to build facilities that will convert waste feedstocks into energy fuels, such as diesel, kerosene and naphtha. The diesel from Cielo’s distillate could be used in diesel engines. Kerosene could be suitable for aviation or marine jet fuel, and naphtha could be used to facilitate the transport of heavy oil. Cielo’s goal is to convert waste into fuel while ridding the world of unwanted and problematic waste.
Caution regarding forward-looking statements
This press release contains certain forward-looking statements and information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective” , “Continue”, “in progress”, “estimate”, “outlook”, “expect”, “could”, “will”, “plan”, “should” or similar words, including their negative aspects , suggesting future results.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause material differences in actual results, level of activity, the performance or achievements of the Company. those expressed or implied by these forward-looking statements. Cielo makes forward-looking statements regarding, but not limited to: the goals and objectives of the company, the preservation of working capital and our internal rewards programs, and their uses and impact on the Company. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors which cause results not to be as anticipated, estimated or planned.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the actual performance and results of the Company to differ materially from projections of future performance or results expressed or implied by such forward-looking statements. All forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or not. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), the OTCQB or WKN, have reviewed and accept no responsibility for the relevance or accuracy of the content of this Press Release.
THE SOURCE: Cielo Waste Solutions Corp.
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