PENFOLD CAPITAL ACQUISITION IV CORPORATION COMPLETES SECOND TRANCHE OF INITIAL PUBLIC OFFERING

/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO UNITED STATES NEWSWIRES./

TORONTO, Feb. 28 /CNW/ - Penfold Capital Acquisition IV Corporation (the "Company"), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), is pleased to announce that it has closed the second tranche of its initial public offering (the "Offering") of 2,965,000 common shares (the "Common Shares") at a price of $0.10 per share for gross proceeds to the Company of $296,500. The first tranche of the Offering of 7,035,000 Common Shares closed on January 31, 2011 for gross proceeds of $703,500. In the aggregate, the Company has issued 10,000,000 Common Shares for gross proceeds of $1,000,000.

Northern Securities Inc. ("Northern") and Byron Securities Limited ("Byron") acted as agents for the Offering. In connection with the Offering, the Company granted to Northern a non-transferable option to purchase up to an aggregate of 1,000,000 Common Shares at a price of $0.10 per share exercisable for a period of 24 months from the date the Company's Common Shares are listed on the TSX-V. Northern received a cash commission of 10% of the total gross proceeds of the Offering.

The Company's common shares have been conditionally approved for listing on the TSX-V. The

Company expects its common shares will commence trading shortly under the symbol PLD.P.

The net proceeds of the Offering will be used to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction", as disclosed in the Company's prospectuses dated December 10, 2010 and January 26, 2011.

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Forward-looking information:

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

SOURCE Penfold Capital Acquisition IV Corporation

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