Latest news with #Cielo
Yahoo
3 days ago
- Entertainment
- Yahoo
Russell Brand Pleads Not Guilty to Rape, Indecent and Sexual Assault Charges in London
Russell Brand appeared at a London court on Friday after being charged with rape, and indecent and sexual assault, pleading not guilty to all five charges. The disgraced comedian's first hearing had taken place earlier this month after it was confirmed that the U.K.'s Crown Prosecution Service had authorized the Metropolitan Police to charge a man, identified as 49-year-old Brand, following an investigation by detectives. More from The Hollywood Reporter Sky Doc on Flight 149 British Airways Passengers, Crew Held Hostage by Saddam Hussein Gets Trailer 'Cielo' Director on His Visceral Film About a Bolivian Girl in Search of Heaven, Aided by Female Wrestlers Charli XCX Pitches "It Girl" 'Final Destination' Film Starring Rachel Sennott, Jenna Ortega: "Just Hot People Getting Killed" Brand, 49, had been charged with one count of rape, one count of indecent assault, one count of oral rape, and two counts of sexual assault. The BBC reported that he pleaded not guilty to all five charges during his Friday appearance at London's Southwark Crown Court. Brand now faces a trial that is scheduled to start on June 3, 2026. The crimes he has been charged with relate to a 1999 rape in the Bournemouth area of the U.K.; a 2001 indecent assault of a woman in Westminster, London; the 2004 oral rape and sexual assault of a woman in Westminster, London; and between 2004 and 2005, the sexual assault of another woman in Westminster. When the formal charges were released, Brand, who has turned to Christianity and been baptized since widespread allegations came to light, responded to the charges in a video shared on his social media, stating: 'I've never engaged in nonconsensual activity. I pray that you can see that by looking in my eyes.' Detectives began investigating in September 2023 after receiving a number of allegations, which followed reporting by Channel 4's Dispatches and The Sunday Times. The program aired extensive allegations against Brand. One of the women told Dispatches that Brand entered a relationship with her when he was 31 and she was 16. Their relationship lasted three months, she had said, and Brand had been 'emotionally abusive and controlling.' Another claimed that Brand raped her in 2012 in his L.A. home, according to the Sunday Times. The British celebrity denied all claims made against him, which date between 2006 and 2013, when Brand was at the height of his fame working on Big Brother's Big Mouth, Kings of Comedy and Big Brother's Celebrity Hijack. A Banijay U.K.-commissioned investigation later found informal complaints concerning Brand were made over 20 years ago on set, and another review into Brand's behavior at the BBC, in particular between 2006 and 2008 when he worked for 6 Music and Radio 2, found that fellow employees believed he 'would always get his way, and therefore stayed silent.' Best of The Hollywood Reporter 'The Studio': 30 Famous Faces Who Play (a Version of) Themselves in the Hollywood-Based Series 22 of the Most Shocking Character Deaths in Television History A 'Star Wars' Timeline: All the Movies and TV Shows in the Franchise
Yahoo
21-05-2025
- Sport
- Yahoo
Enhanced Games swimmer 'breaks world record'
The Enhanced Games - a controversial new event which promotes banned performance-enhancing drugs - says one of its athletes has beaten a long-standing world record. Organisers said Greece's Kristian Gkolomeev swam 20.89 seconds in a 50m freestyle time trial in the US in February, 0.02 seconds quicker than the world record set by Brazil's Cesar Cielo in 2009. Gkolomeev, who finished fifth at the 2024 Olympics in 21.59, began taking banned substances after signing up for the Enhanced Games in January. At a glitzy launch in Las Vegas on Wednesday, the Enhanced Games announced the city as the host of its inaugural event from 21-24 May 2026. The Enhanced Games are planned to be an annual competition, initially comprising short-distance swimming, sprinting and weightlifting, where participants will use drugs banned from elite sport. It has been criticised for endangering athletes' health and undermining fair play. However, it has also attracted heavyweight backing from a venture capital fund headed up by Donald Trump Jr, the US president's son, and billionaire entrepreneur Peter Thiel. For his 'world record' in North Carolina, USA, 31-year-old Gkolomeev was wearing a full-length polyurethane 'supersuit', which was banned from competition by swimming authorities a few weeks after Cielo set the world record in one. However, in another attempt in April, Gkolomeev swam 21.03 in textile 'jammer' shorts, which comply with current World Aquatic regulations. That time is 0.01secs faster than anyone has gone without the aid of 'supersuits', beating a mark set by American nine-time Olympic champion Caeleb Dressel. The Enhanced Games say the two times are legitimate, with Gkolomeev's swims recorded using the same timing equipment deployed at the Olympics, staged at a certified pool which has hosted the past four US Open events, and overseen by experienced officials. Neither mark will be recognised by World Aquatics. Gkolomeev received a $1m prize for beating a world record time, an incentive that the Enhanced Games have used to lure athletes since being was founded by Australian entrepreneur and lawyer Aron D'Souza in 2023. The mind behind the 'Doped Games' Magnussen to make doping 'world record' attempt "The Enhanced Games gave me the resources and the team to unlock a new level of performance - and now the whole world can see what's possible," said Gkolomeev, whose previous 50m freestyle best was 21.44, winning silver behind Britain's Ben Proud at the European Championships in Edinburgh in 2018. He added that his body shape changed considerably between doping for two weeks in advance of beating Cielo's record in Feburary and then going quicker than Dressel in textile shorts in April. "On the second attempt I was on a full two-month cycle," he added. "I had an extra 10lbs of lean muscle – we did a pretty good job with my coach in that short amount of time to get used by my new strength and weight in the water. It was a very good result." The Enhanced Games did not reveal what substances he had taken, citing personal confidentiality and concern that others would follow Gkolomeev's regime unsupervised. It said they were prescribed "medically and legally". Organisers say they allow participants to take only "medically prescribable and legally approved" substances under clinical supervision, and that they are confident they will comply with the Drug Enforcement Administration laws in the US. Ukraine's Andrii Govorov, the 33-year-old 50m butterfly world record holder, and 21-year-old Bulgarian Josif Miladinov, a European 100m butterfly silver medallist, have also signed up. Govorov announced his retirement from Olympic sport this week. "This choice wasn't easy," he wrote on Instagram. "I spent a long time reflecting - putting everything I care about on the scale. Competing in Los Angeles [in 2028] was my dream. But life had other plans." The recruitment of Gkolomeev, Govorov and Miladinov is a coup for the Enhanced Games after critics claimed it would struggle to convince established names, still in their prime, to cross the divide. Australian former world champion James Magnussen, 34, came out of retirement to join the Enhanced Games in 2024, but his attempt to beat the 50m freestyle world record fell well short, recording a best time of 22.73. The Enhanced Games have aspirations to have a 100-strong roster of participants in next year's event. Organisers will build a four-lane 50m pool, a six-lane sprint track and a weightlifting venue at Resorts World in Las Vegas. The project also plans to market "performance and longevity enhancements" to the general public this summer. The Enhanced Games have been roundly criticised by senior figures in anti-doping and sports administration. Travis Tygart, chief executive of the US Anti-Doping Agency, called it a "clown show" and the World Anti-Doping Agency described it as a "dangerous and irresponsible project". Speaking in November, Brent J Nowicki, the executive director of World Aquatics, said it was "a farce, and an extremely dangerous one", adding that those who took part should be banned from sport for life. Jane Rumble, chief executive of UK Anti-Doping (Ukad), told BBC Sport: "We are really, really concerned by this concept. "It flies in the face of everything Ukad stands for and it flies in the face of fair play. "Any sporting event which permits performance-enhancing drugs is ultimately unsafe - unhealthy for athletes. It is not good for their wellbeing. "There are also much broader societal implications. It is well documented that steroid use has been linked to domestic violence and aggression in the nighttime economy." A Ukad survey published this week said 85% of UK teenagers supported banning athletes caught taking prohibited drugs. Rumble said Ukad is unaware of any British athletes being approached by the Enhanced Games, but is planning for the possibility. "We have clearly thought through that scenario," she said. "There is the possibility of bans from sport for athletes taking part. If you are recently retired but still affiliated to a sports body, we could well be looking at taking action." Jim McVeigh, professor of substance use and associated behaviours at Manchester Metropolitan University, said organisers' assurances about athletes' safety were "ignorant or deliberately misleading". "They are focusing on the power sports - sprinting, lifting and swimming - and, for those events, athletes will take anabolic agents," he told BBC Sport. "Athletes won't use just in the weeks before. If it is $1m, those people are going to be training now. Are organisers looking out for them? Have they started their supervision? "In the last 10 years we have really improved our understanding of the long-term effects of steroid abuse as a population of steroid users who started in 1990s have got to a certain age. "There are the effects on the cardiovascular system, but the big turn-up has been the impact it has on the brain. Many people will never return to normal hormonal production and function. "We know people in the Enhanced Games are going to be taking high doses because they know everyone else is free to." Enhanced Games officials say that by bringing the use of performance-enhancing drugs into the open and under the guidance of doctors, their event will be safer than conventional sport. They point to a study of the 2011 World Athletics Championships where athletes' responses to an anonymised survey suggested almost 44% had taken a banned substance in the previous year. A survey of athletes in the UK in 2022 indicated that about 13% of athletes knowingly doped. Gkolomeev was born in the Bulgarian city of Velingrad in 1993. His father, Tzvetan Golomeev, represented Bulgaria at the Olympics in Moscow in 1980 and Seoul in 1988. Gkolomeev's mother died of medical complications shortly after his birth, and the family moved to Greece when he was young. He began swimming aged five, won junior medals at world and European level and raced at London 2012 as a teenager, finishing 31st fastest in the 100m freestyle. After the Games, Gkolomeev was recruited to the University of Alabama by former British Olympic coaches Dennis Pursley and Jonty Skinner, where he studied human performance exercise science alongside his swimming. He won two collegiate titles before beginning his professional career. In addition to fifth-place finishes at Tokyo 2020 and Paris 2024, he won a world silver medal in the 50m freestyle in Gwangju in 2019 and the European title in Belgrade in 2024.
Hamilton Spectator
16-05-2025
- Business
- Hamilton Spectator
Cielo Announces New Securities for Debt Transactions, Replacing Previously Announced Transactions
CALGARY, Alberta, May 16, 2025 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) ('Cielo' or the 'Company') announces the anticipated settlement of an aggregate $1,797,195 (the 'Aggregate Debt Amount') through the issuance of securities of the Company, subject to the approval of the TSX Venture Exchange (the 'Exchange'). As announced on January 21, 2025, the Company had entered into agreements with certain arm's length creditors (the 'Creditors') to complete shares for debt transactions (the 'Prior Proposed Transactions'). The Prior Proposed Transactions did not close, as announced on April 30, 2025, however the Company 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 intends to issue 35,943,847 units (each, a 'Repayment Unit', collectively the 'Repayment Units') in aggregate to the Creditors at a price of $0.05 per Unit, to settle $1,671,656.67 of the Aggregate Debt Amount (the 'Units for Debt Transactions'). Each Unit is comprised of one common share of the Company (each, a 'Common Share') and one whole Common Share purchase warrant (each, a 'Warrant') of the Company, each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.15 per Common Share for a period of two (2) years from the date of issuance. In addition, Cielo intends to settle the balance ($125,535.79) of the Aggregate Debt Amount with an Insider of the Company (as that term is defined in the policies of the Exchange) by the issuance of 2,510,715 Common Shares (the 'Repayment Shares', together with the Repayment Units, collectively the 'Repayment Securities') at a price of $0.05 per Repayment Share (the 'Shares for Debt Transaction'). No Warrants will be issued to the Insider. The Shares for Debt Transaction with the Insider (the 'Insider Transaction') is considered to be a 'related party transaction' under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transaction ('MI 61-101'). The Company will rely upon the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5 (a) and 5.7(1) (a), as the fair market value of the Insider Transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Units for Debt Transactions and the Shares for Debt Transaction are subject to the approval of the Exchange. Upon approval and issuance, the Repayment Securities will be subject to a hold period of 4 months. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ABOUT CIELO Cielo Waste Solutions Corp. is a publicly traded company focused on transforming waste materials into high-value products. Cielo seeks to address global waste challenges while contributing to the circular economy and reducing carbon emissions. Cielo is fueling environmental change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable technologies. Cielo is committed to helping society by providing environmental waste solutions, which the Company believes will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol 'CMC,' as well as on the OTC Pink Market under the symbol 'CWSFF.' For further information please contact: Cielo Investor Relations Ryan C. Jackson, CEO Phone: (403) 348-2972 Email: investors@ 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. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Cielo is making forward-looking statements, including but not limited to with respect to: the terms of the Units for Debt Transactions and Shares for Debt Transaction, including but not limited to the number of Repayment Shares and Repayment Units to be issued, the price, the MI 61-101 exemptions to be relied upon, and the execution of agreements with the creditors. Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR+. 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, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
Yahoo
16-05-2025
- Business
- Yahoo
Cielo Announces New Securities for Debt Transactions, Replacing Previously Announced Transactions
CALGARY, Alberta, May 16, 2025 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTC PINK:CWSFF) ('Cielo' or the 'Company') announces the anticipated settlement of an aggregate $1,797,195 (the 'Aggregate Debt Amount') through the issuance of securities of the Company, subject to the approval of the TSX Venture Exchange (the 'Exchange'). As announced on January 21, 2025, the Company had entered into agreements with certain arm's length creditors (the 'Creditors') to complete shares for debt transactions (the 'Prior Proposed Transactions'). The Prior Proposed Transactions did not close, as announced on April 30, 2025, however the Company 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 intends to issue 35,943,847 units (each, a 'Repayment Unit', collectively the 'Repayment Units') in aggregate to the Creditors at a price of $0.05 per Unit, to settle $1,671,656.67 of the Aggregate Debt Amount (the 'Units for Debt Transactions'). Each Unit is comprised of one common share of the Company (each, a "Common Share") and one whole Common Share purchase warrant (each, a "Warrant") of the Company, each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.15 per Common Share for a period of two (2) years from the date of issuance. In addition, Cielo intends to settle the balance ($125,535.79) of the Aggregate Debt Amount with an Insider of the Company (as that term is defined in the policies of the Exchange) by the issuance of 2,510,715 Common Shares (the 'Repayment Shares', together with the Repayment Units, collectively the 'Repayment Securities') at a price of $0.05 per Repayment Share (the 'Shares for Debt Transaction'). No Warrants will be issued to the Insider. The Shares for Debt Transaction with the Insider (the 'Insider Transaction') is considered to be a 'related party transaction' under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transaction ('MI 61-101'). The Company will rely upon the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5 (a) and 5.7(1) (a), as the fair market value of the Insider Transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Units for Debt Transactions and the Shares for Debt Transaction are subject to the approval of the Exchange. Upon approval and issuance, the Repayment Securities will be subject to a hold period of 4 months. ABOUT CIELO Cielo Waste Solutions Corp. is a publicly traded company focused on transforming waste materials into high-value products. Cielo seeks to address global waste challenges while contributing to the circular economy and reducing carbon emissions. Cielo is fueling environmental change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable technologies. Cielo is committed to helping society by providing environmental waste solutions, which the Company believes will contribute to generating positive returns for shareholders. Cielo shares are listed on the TSX Venture Exchange under the symbol 'CMC,' as well as on the OTC Pink Market under the symbol 'CWSFF.' For further information please contact: Cielo Investor Relations Ryan C. Jackson, CEO Phone: (403) 348-2972 Email: investors@ 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. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Cielo is making forward-looking statements, including but not limited to with respect to: the terms of the Units for Debt Transactions and Shares for Debt Transaction, including but not limited to the number of Repayment Shares and Repayment Units to be issued, the price, the MI 61-101 exemptions to be relied upon, and the execution of agreements with the creditors. Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR+. 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, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-04-2025
- Business
- Yahoo
EXPANDER CORRECTS MISLEADING DISCLOSURE MADE BY OR ON BEHALF OF CIELO
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ CALGARY, AB, April 6, 2025 /CNW/ - Expander Energy Inc. ("Expander"), the largest shareholder of Cielo Waste Solutions Corp. (TSXV: CMC) ("Cielo"), wishes to correct misleading disclosure made by or on behalf of the Cielo board about Expander and its decision to requisition a shareholders' meeting. News Release of Cielo dated April 1, 2025 FICTION: Cielo has notified Expander of its intention to initiate the dispute resolution procedures under the Technologies Licence Agreement dated November 9, 2023 (the "Licence Agreement"). FACT: On March 31, 2025, Cielo sent a notice to Expander purporting to initiate mediation under the Licence Agreement. However, the notice fails to comply with both the dispute resolution procedures set out in the Licence Agreement and the National Arbitration Rules of the ADR Institute of Canada, which govern those dispute resolution procedures. Condensed Interim Consolidated Financial Statements of Cielo for the three and nine months ended January 31, 2025, and 2024 (the "Interim Financial Statements"), Amended Management's Discussion and Analysis of Cielo for the three months ended January 31, 2025, and 2024 (the "Interim MD&A"), and Certifications of Interim Filings FICTION: Neither the Interim Financial Statements nor the Interim MD&A omit to state material facts required to be stated or that are necessary to make disclosure not misleading in light of the circumstances under which the disclosure was made. FACT: The Interim Financial Statements do not contain disclosure concerning certain significant events (more particularly described below) that occurred after January 31, 2025. Although the condensed interim consolidated statements of financial position in the Interim Financial Statements refer to a Subsequent Event note, there is no Subsequent Events note to, or information about subsequent events contained in, the Interim Financial Statements. In several cases, the Interim MD&A fails to identify, or distinguish between, significant events involving Expander that occurred on or before January 31, 2025, and significant events involving Expander that occurred after that date. FICTION: Cielo has initiated the dispute resolution process under the Amended and Restated Asset Purchase Agreement dated November 9, 2023 (the "Asset Purchase Agreement"). FACT: On March 31, 2025, Cielo sent a notice to Expander purporting to initiate mediation under the Licence Agreement, not the Asset Purchase Agreement. The Asset Purchase Agreement does not contain dispute resolution procedures, other than those contemplated in an indemnification clause. FICTION: Cielo initiated the dispute resolution process due to differences between Cielo and Expander in their strategic visions. FACT: In its notice dated March 31, 2025, Cielo failed to identify any matters in dispute. However, it would clearly be inappropriate of Cielo to use the dispute resolution procedures in the License Agreement to adjudicate differences in strategic vision. News Release of Cielo dated April 2, 2025 FICTION: Expander chose to requisition a shareholders' meeting, rather than engage in constructive dialogue with Cielo. FACT: Expander or its legal counsel has written to Cielo or its counsel nine times since August 14, 2024, seeking a resolution of disputes between Expander and Cielo. FICTION: Expander chose to requisition a shareholders' meeting, rather than engage in constructive dialogue with Cielo. FACT: Expander chose to requisition a shareholders' meeting because the Cielo board has a recent track record of disenfranchising shareholders: On August 23, 2024, the Cielo board scheduled a virtual-only shareholders' meeting to be held on October 29, 2024 (the "October Shareholders' Meeting"). Between October 21, 2024, and October 29, 2024, Expander sought from Cielo assurances that the ability of shareholders to participate in the October Shareholders' Meeting would be comparable to that which shareholders could reasonably expect if they were attending an in-person shareholders' meeting. Cielo was unable to provide any such assurances. On October 29, 2024, the Cielo board cancelled the October Meeting, approximately ten minutes after it was scheduled to begin, citing unspecified "technical difficulties". On November 1, 2024, the Cielo board called a shareholders' meeting to be held on December 19, 2024 (the "December Shareholders' Meeting"). On November 22, 2024, the Cielo board cancelled the December Shareholders' Meeting, citing the strike action against Canada Post and its inability to mail meeting materials to shareholders. Cielo has failed to reschedule the December Shareholders' Meeting, despite the fact that Canadian Securities Administrators granted relief from the requirements to mail meeting materials on November 28, 2024, and the strike action was suspended on December 17, 2024. FICTION: Expander attributed the decline in the market price of the Cielo shares solely to the Cielo board. FACT: Expander noted that the market price of the Cielo shares has declined approximately 88% during the past 18 months; it did not attribute the decline to any single person or group of persons or to any particular circumstance or event. However, the Cielo board is responsible for supervising the management of the business and affairs of Cielo and, therefore, bears at least partial responsibility for its abysmal operational and financial performance. allAlberta Articles dated April 2, 2025, and April 3, 2025 FICTION: The standoff between Expander and Cielo was ignited by the announcement that Cielo terminated its proposed acquisition of the Carseland Facility. FACT: The current standoff between Expander and Cielo was ignited by the following factors, among others: The material misstatements made by Cielo in its Unaudited Condensed Consolidated Financial Statements for the three and six months ended October 31 2023, and 2022, and the year ended April 30, 2023; The inability of Cielo to raise capital to finance the development of the projects contemplated by the Asset Purchase Agreement and the Licence Agreement; The refusal of the Cielo board and senior management to constructively engage with Expander and other shareholders; The decision by the Cielo board to call a virtual-only shareholders' meeting that failed to comply with the guidelines published by Canadian Securities Administrators; The cancellation of the October Shareholders' Meeting; The cancellation of the December Shareholders' Meeting; The abysmal operational and financial performance of Cielo and the tendency of the Cielo board to blame that operational and financial performance solely on market conditions; Material breaches by Cielo of the Asset Purchase Agreement, the Licence Agreement, and the Management Services Agreement dated November 9, 2024; Spurious claims by Cielo, which were later retracted, that Cielo possesses ownership rights in Expander technologies that are unrelated to the Asset Purchase Agreement and the Licence Agreement; and Poor public disclosure, including a lack of publicly-disclosed information about the status of the proposed transaction between Cielo and Rocky Mountain Clean Fuels Inc. FICTION: James H. Ross is the Executive Chairman of Expander. FACT: James H. Ross is neither a director nor an officer of Expander. FICTION: John G. F. McLeod is the Chief Executive Officer of Blacksteel Energy Inc. and is a former director of Expander. FACT: James G. F. McLeod is the Chief Operating Officer of Blacksteel Energy Inc., which he joined in 2024 for the sole purpose of executing a corporate turnaround, and a current director of Expander. FICTION: The Asset Purchase Agreement entitled Expander to nominate Nick Lenstra, G. Steven Price, and James H. Ross to the Cielo board. FACT: The Asset Purchase Agreement entitles Expander to nominate John G. F. McLeod, G. Steven Price, and James H. Ross to the Cielo board. Finally, if Ryan Jackson, the President and Chief Executive Officer of Cielo, wishes to make statements about Expander and its requisition, then Expander encourages him to do so in accordance with the disclosure standards established by Canadian Securities Administrators and the TSX Venture Exchange, rather than selectively making statements to "pay-to-play" or subscription-based news services, such as allAlberta. About ExpanderExpander Energy Inc. is a Calgary, Alberta-based energy technology company that has developed a patented suite of transportation fuel production technologies to convert biomass, captured carbon and low Carbon Intensity electricity into "fossil free" low life cycle carbon intensity synthetic diesel fuel (Bio-SynDiesel®) and synthetic kerosene jet fuel (Bio-SynJet®). Expander's Bio-Energy Carbon Capture and Sequestration (BECCS) solution utilizes cellulosic biomass to produce next generation low CI synthetic fuels while efficiently capturing bio-carbon for geologic sequestration. Bio-SynDiesel®, Bio-SynJet®, BGTL™, EBTL™, BETL™, and CETL™ are trademarks of Expander Energy Inc. Additional InformationThe information contained in this news release does not and is not meant to constitute the solicitation of proxies within the meaning of corporate law or securities legislation. Although Expander has requisitioned a shareholders' meeting, there is currently no record or meeting date set for the shareholders' meeting and shareholders are not being asked at this time to execute a proxy in favour of any resolution set out in the requisition. For additional information, see the news release of Expander dated April 1, 2025. A copy of this news release is available on the SEDAR+ profile of Cielo at Contact InformationGord N. Crawford, and CEOExpander Energy Inc.(780) 966-4673 SOURCE Expander Energy Inc. View original content: Sign in to access your portfolio
