Northcore Technologies to Purchase Cielo Gold’s Biodiesel Assets

In Canada, Northcore Technologies Inc. and Cielo Gold Corp. have signed a Letter of Intent for Northcore to purchase the Blue Horizon Biodiesel demonstration plant and related intellectual property. The plant currently produces biodiesel from municipal solid waste. Northcore plans to purchase the biodiesel assets in exchange for 48% ownership in Cielo Gold. Northcore will receive a 50% share of the commercialized biodiesel profits, which include new production plants financed by Cielo.