MISSISSAUGA, ON, March 15, 2019 /CNW/ - Pioneering Technology Corp. ("Pioneering" or the "Company") (TSXV: PTE), a technology company and North America's leader in cooking fire prevention technologies and products, announces that it has applied for approval from the TSX Venture Exchange to extend the expiry date of 2,997,815 common share purchase warrants issued to subscribers pursuant to the private placement of units which closed on March 22 and April 20, 2017. Pioneering intends to extend the expiry date of the warrants from March 22 and April 20, 2019 until March 22 and April 20, 2021.
The exercise price of $1.80 per share and all other terms of the warrants will remain unchanged for the extended exercise period. The extension is subject to approval from the TSX Venture Exchange.
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, SmartRange, 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.
Forward Looking Statements
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pioneering Technology Corp.
For further information: 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]