- HPN Select represents over 200,000 affordable housing units & a network of the nation's best community development organizations
MISSISSAUGA, ON, April 10, 2018 /CNW/ - Pioneering Technology Corp. (TSXV: PTE; OTC: PTEFF), ("Pioneering" or the "Company"), a technology company and North America's leader in cooking fire prevention technologies and products is pleased to announce its latest partnership with HPN Select. The partnership consists of HPN Select and Pioneering working together to promote Pioneering's best-selling SmartBurner to HPN Select's affordable, multi-family housing membership. SmartBurner delivers proven cooking fire prevention technology for electric coil stoves across North America.
According to the National Fire Protection Association, cooking equipment is involved in almost half (48%) of all household fires in the United States. HPN Select's membership is focused on multi-family affordable housing, a sector that, according to statistics, is at a higher risk for cooking fires. Pioneering's SmartBurner with its patented temperature limiting control (TLC) technology helps prevent cooking fires before they start.
HPN Select is a strategic purchasing alliance created in 2015 by 19 Housing Partnership Network (HPN) shareholders representing a collaborative of 100 of the leading affordable housing developers and property managers in the U.S. HPN Select's mission is to provide competitively priced, high quality procurement solutions for its members in the affordable housing sector. HPN Select is also partnered with Neighborworks America, a network that includes 240 of the nation's best community development organizations. As part of the new partnership, HPN Select will actively promote the SmartBurner through targeted marketing campaigns and during property site visits focused on risk and/or operating cost reduction.
Pioneering CEO Kevin Callahan said, "Our mission is to help protect people and property. We are delighted to be partnering with HPN Select in helping bring their members our proven, best-in-class cooking fire prevention product to help better protect their properties while also delivering their members a return on investment."
Separately, Pioneering has retained Trapeze Capital Corp. of Toronto, Canada to provide market-making services in accordance with TSX-V policies. Under the terms of the agreement ("Agreement"), Trapeze will receive cash compensation of $5,500 per month and will not receive any Common Shares or options of Pioneering as compensation. Trapeze does not currently own any securities of Pioneering; however, Trapeze and its clients may acquire a direct interest in the securities of Pioneering. Pioneering and Trapeze are unrelated and unaffiliated entities. The principals of Trapeze are Herb Abramson, Randall Abramson and Adam Abramson. Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of TSX and a member of TSX-V. The capital and securities required for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for an initial term of 180 days, with automatic renewals for a further 180 days unless terminated.
About Pioneering Technology Corp.: Pioneering Technology is an "energy smart" technology company and North America's leader in innovative cooking fire prevention technologies and products. Our mission is simple: To help save lives and property from the number one cause of household fire – cooking fires. We do this by engineering and bringing to market energy-smart solutions that make consumer appliances safer, smarter, and more efficient. Our patented cooking-fire prevention products address the multi-billion-dollar problem of cooking fires. According to the National Fire Protection Association, stovetop cooking is the number one cause of household fire and fire injuries in North America. Pioneering's patented temperature limiting control (TLC) technology is now installed in over 250,000 multi-residential housing units across North America without a single cooking fire being reported, delivering peace of mind and a solid return on investment for its customers. Pioneering's proprietary cooking fire prevention solutions include Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor and are suitable for the majority of the more than 140 million stoves/ranges and over 140 million microwave ovens in use throughout North America. For more information, visit www.pioneeringtech.com.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
SOURCE Pioneering Technology Corp.
For further information: please contact: Pioneering Technology Corp., Kevin Callahan, CEO, Phone: 647-945-7515, Email: [email protected]; For investor relations please contact: Contact Financial Corp., Rob Gamley, Phone: 604-689-7422, Email: [email protected]