/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
MISSISSAUGA, ON, Oct. 15 /CNW/ - PIONEERING TECHNOLOGY CORP. (the "Corporation") (TSX VENTURE: PTE) announced the following corporate updates as at September 30th, 2009, the Corporation's year end:
- The Corporation completed Q4 and its 2009 fiscal year on September
30th, 2009 with its 6th consecutive quarter of revenue growth. The
Corporation's 2009 financial results are to be reported on or before
January 30, 2010.
- Richard M. Hurwitz, Chairman of the Board of the Corporation, is
stepping down due to other business commitments. The Board of
Directors of the Corporation would like to thank Mr. Hurwitz for his
contribution in helping Pioneering through its restructuring and this
very important period in its development.
- The Corporation has granted options to purchase an aggregate of
1,470,000 common shares to directors and officers at a price of $0.15
per share. All of the options expire on September 30, 2014.
Approximately half of the options vest immediately with the remaining
options vesting as specific time and business related milestones are
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
SOURCE PIONEERING TECHNOLOGY CORP.
For further information: For further information: Kevin R. Callahan, the President and CEO of Corporation, at (905) 712-2061 x222