RE:RE:RE:New Press Release - Cielo Announces Private Placement of Convertible Debenture Units for up to $2.87 Million - The acquisition of the Enhanced Gas to Liquids (“EGTL™”) facility located in Carseland, Alberta, is valued at $125 million
- Cielo intends to form a limited partnership (the “Cielo LP”) that will own the acquired EGTL™ facility. The facility will expand to process wood waste, which will include railway ties from Canadian Pacific Kansas City Southern (CPKC)
The phrase "mismanaged" may be fitting for the DonTech era, which appears to be in the rear-view mirror. "...is valued at $125 million" along with "...include railway ties from Canadian Pacific Kansas City Southern (CPKC)" would indicate that Cielo's new, ambitious plan is meeting a high standard, as seen by the latest acquisition and mention of CPKC.
Of course, they require funding, which is like trekking through quicksand given CMC's previous brand reputation and the ever sluggish Canadian equity markets, but CEO Jackson and CFO Dhaliwal appear to embrace the challenge. The business springboard has emerged, however execution will require some time and patience.