Vancouver, British Columbia (FSCwire) - CSE:CMC: Cielo Waste Solutions Corp. ("Cielo" or the "Company") is pleased to announce the implementation of a warrant exercise incentive program (the “Program”) designed to encourage the early exercise of 16,366,180 unlisted warrants with an exercise price of $0.20 per warrant with expiration dates between July and November 2018 (the “Warrants”).  The Program will be open to Canadian holders of the Warrants until June 29, 2018 (the “Early Exercise Period”).

The Company has opted to prevent further dilution through the issuance of additional shares or warrants and, as it is nearing the start-up of its first commercial refinery, wishes instead to offer the right to receive a fixed dollar amount royalty on future production as its incentive. 

Each holder of Warrants who participates in the Program will be entitled to receive $0.0875 per Warrant exercised, payable as a non-transferable fixed rate royalty (the “Royalty” or the “Royalties”), which will be paid out pro rata over an estimated period of two (2) years or less, in the discretion of management, considering the aggregate value of the Royalties issued and the Company’s cash flow requirements.  Once Cielo begins production, Cielo will allocate 10% of gross sales to the payment of the Royalties. 

The terms and conditions of the Program will be set forth in a letter to be delivered to the registered address of each holder of Warrants. Holders of Warrants who wish to participate in the Program will agree to exercise their Warrants pursuant to the terms of such Warrants and to deliver any necessary documents required by the Company for the issuance of the Royalties.  If Warrants are not exercised prior to the end of the Early Exercise Period or if a holder of Warrants does not qualify to receive the Royalty, the Warrants will remain outstanding and continue to be exercisable on the same terms applicable to such Warrants as they existed prior to the Program. Cielo intends to use the proceeds of the exercised Warrants for additional materials for the start-up as well as for operation of its first commercial refinery (the “Refinery”).  Further, as Cielo is weeks away from the start-up of the Refinery, the proceeds will provide additional financial flexibility for the Company.

Operations Update

On May 23, 2018, Cielo received a letter from the Alberta Climate Change Office stating that Cielo has been approved to submit a grant application for the Bioenergy Producers Program, which is a grant that could subsidize $0.13 per liter on every liter of renewable diesel produced by Cielo.  While this does not guarantee future grant approval, management believes it is a good indication of support from the Alberta Government. 

Cielo continues to wait on the receipt of its final Environmental Protection and Enhancement Act permit (the “Permit”) from the Ministry of Environment and Parks (Alberta) (the “Ministry”).  The Company continues to correspond regularly with the Ministry and has advised the Ministry of its late spring target start-up date (the “Target Date”).  Notwithstanding the longer than anticipated approval process to date, management has been assured by the Ministry that the Permit will be granted in short order.  The Company continues to work toward the Target Date and will provide additional updates as more specific information becomes available.  Don Allan, President and CEO, stated, “We are excited to confirm that over 85% of the fabrication and over 70% of the assembly of the facility is complete.  The team is extremely enthusiastic as we approach the start-up of our first commercial refinery, which converts cellulosic material into renewable diesel.  Being so close to commercializing our technology, we are thrilled to have our shareholders join us through this transformative period.”

For more information please contact:

Cielo Waste Solutions Corp.

Don Allan, President & CEO

(403) 348-2972 Ext. 101

donallan@cielows.com

www.cielows.com

Michael Yeung, CFA, VP, Business Development & Capital Markets

(403) 348-2972 Ext. 103

michaelyeung@cielows.com

www.cielows.com

About Cielo Waste Solutions Corp.

Cielo Waste Solutions Corp. is a publicly traded company with its shares listed to trade on the Canadian Securities Exchange (“CSE”) under the symbol “CMC”. Cielo holds the exclusive license for the global rights to a transformational, patent-pending, technology that can convert garbage-derived feedstocks to renewable diesel, at a significantly lower cost than biofuel companies. The garbage-derived feedstocks include sorted municipal solid waste (garbage), wood and agriculture waste, tires, blue-box waste, all plastics and virtually any other cellulous waste product into high grade renewable diesel.

Cautionary Note Regarding Forward-looking Statements

This news release contains certain forward-looking statements and forward-looking 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", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.

Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of its industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

Forward-looking statements are not a guarantee 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 Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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