/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
MISSISSAUGA, ON, Aug. 25 /CNW/ - PIONEERING TECHNOLOGY CORP. (the
"Corporation") (TSX VENTURE: PTE) announces the conversion of the final
$100,000 of its loan financing (the "Loan") from McAllister Holdings Ltd. (the
"Lender") originally announced on May 1, 2008 and as approved at a Special
Meeting of Shareholders on May 8th, 2009. On August 18th, 2009 $100,000 was
converted (subject to TSX Venture Exchange approval) into Common Shares on the
basis of the 10-day volume weighted average price of the Common Shares on the
TSX Venture Exchange. On August 18th that amount was calculated to be at a
price of $0.112404712 per share for net proceeds of 889,642 common shares in
the capital of the Corporation.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Kevin R. Callahan, the President and CEO of
Corporation, at (905) 712-2061