/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
And Provides Brief Update on Other Corporate Matters
MISSISSAUGA, ON, Jan. 7 /CNW/ - PIONEERING TECHNOLOGY CORP. (the "Corporation") (TSX VENTURE: PTE) announced the following corporate updates as at December 31st, 2009:
- The Corporation finished the 2009 calendar year with record unit
sales in the month of December;
- Sales revenue for the first quarter ending December 31st increased
for the seventh consecutive quarter and,
- the Corporation realized its second consecutive quarter of profitable
The Corporation's audited 2009 financial results (for the fiscal year ended September 30, 2009) will be reported on or before January 28, 2010 and the Corporation's results for the three months ended December 31, 2010 will be reported on or before February 29, 2010.
The Corporation also announced that the TSX Venture Exchange has approved the various shares for debt transactions that were described in its press release of November 6, 2009 and the Corporation has issued an aggregate of 1,548,145 common shares in connection with these transactions. These shares included, in lieu of the convertible promissory note described in the November 6, 2009 press release, 296,296 shares issued to Kevin Callahan, the President and CEO of the Corporation, in satisfaction of $40,000 of accrued and unpaid salary.
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: Kathy Skretkowicz, at (905) 712-2061 x229