Investor Communication

Mississauga, ON (June 8, 2020) – Pioneering Technology Corp. (TSXV: PTE) (“Pioneering” or the “Company”), a technology company and North America’s leader in cooking fire prevention technology and products reports its unaudited condensed interim financial results for the second quarter ended March 31, 2020. Pioneering’s unaudited condensed interim financial statements and MD&A are available on SEDAR (www.sedar.com).

Pioneering’s turnaround accelerated in its second quarter ended March 31, 2020 with significant revenue growth.  The Company has worked hard to overcome the challenges it faced in fiscal 2018 and 2019 and believes that its current strategic plan is working and positioning the Company for future growth. Here are some highlights:

Financial Highlights:

Selected Financial Results for the Second Quarter & Six-months Ended March 31, 2020 & 2019: 

 Three Months Ended March 31 2020Three Months Ended March 31 2019 Six Months Ended March 31 2020Six Months Ended March 31 2019
Revenue2,514,757914,544 4,715,9422,188,418
Gross Profit848,675533,124 2,015,5981,239,513
Expenses1,029,9831,009,883 1,843,3642,466,002
Net Income (Loss) (260,014)(470,902) 64,720(1,227,143)
EPS Basic (Loss) $0.00($0.01) $0.00($0.02)
Adjusted EBITDA¹45,584(382,694) 459,385(1,021,540)
Tariff Adjusted EBITDA¹339,859(382,694) 831,100(1,021,540)

(1) Adjusted EBITDA and Tariff Adjusted EBITDA are non-IFRS measures. Please refer to “Non-IFRS Measures” at the end of this press release.

Pioneering CEO Kevin Callahan said of the results, “We are pleased with the progress we are making in 2020.  We have a strong team, relevant and meaningful product solutions and distributors with whom we are developing very strong relationships. While the current environment poses some challenges, we are taking proactive steps to manage pricing, cost of goods sold and gross profit while continuing to pursue top-line revenue growth. We have confidence in our strategy, and the difference we can continue to make for our customers.  We believe we have all the right pieces in place going forward to grow our business and add shareholder value”.

Although the Company’s revenues grew significantly during the three months ended March 31, 2020, gross margins declined as a result of (i) special customer incentives and discounts to certain customers in connection with large volume purchase commitments pursuant to which the Company’s products would be purchased and installed across multiple properties in phases over the course of the year, (ii) U.S. tariffs on sales of SmartBurner to U.S. based customers and (iii) the impact of the Company’s “first-in, first-out” inventory accounting policy on cost of goods sold during the quarter. The Company is actively pursuing a number of alternatives to mitigate the impact of U.S. tariffs going forward.

The ongoing COVID-19 pandemic has affected Pioneering in a number of ways. On the one hand, the closure of restaurants and self-isolation and “work from home” measures have significantly increased the amount of home cooking and, as a consequence, cooking related fires. This has increased awareness of the problem and the need for solutions to reduce the risk of cooking fires. Pioneering believes that these circumstances provide an opportunity for it to strengthen the profile of its products and to attract new customers.  

On the other hand, although Pioneering currently expects that its strong sales performance will continue into the second half of fiscal 2020, it has seen a decline in product shipments in the third quarter due to COVID-19. The pandemic has also affected the Company’s supply chain and during Q2 temporarily interrupted its supply of product. 

Given the uncertainties associated with the ongoing nature and duration of the COVID-19 pandemic, it is not possible to reliably estimate the impact of the pandemic on the Company’s financial results or operations in future periods.  

Q2 2020 Business Highlights

Strong Balance Sheet: As at March 31, 2020, the Company has approximately $4.4 million in cash and total current assets of approximately $7.6 million. 

Mercy Housing: During the quarter Mercy Housing, a leading affordable housing organization in the U.S. that serves more than 45,000 low-income residents in 21 states, continued to install SmartBurner as its cooking fire prevention solution for properties equipped with an electric coil stove.  The decision follows a successful pilot program involving multiple properties across the United States without a single report of a cooking fire. SmartBurner is approved for all Mercy Housing properties to purchase. The Company expects to install SmartBurner in Mercy Housing properties in both 2020 and 2021.

Distributor Partnership Activities: As part of its strategy to aggressively invest for growth with HD Supply USA, the Company continues to participate in annual catalogues and sales conferences at HD Supply. The Company will also begin to participate in the HDS sales outreach program which will allow the Company to disseminate key cooking fire information and key product information to the HDS sales organization in an effort to build awareness for the Company’s products and ultimately drive awareness and sales with end customers. This strategy is delivering results. The Company is also now selling its products through a number of additional distributors and is beginning to see  these relationships  deliver incremental revenue as awareness with these other distributors/sales organizations get engaged.    

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About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario is an “energy smart” technology company and NorthAmerica’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 solutionsthat 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 temperature limiting control (TLC) technology is now installed in over 300,000 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 info, go to www.pioneeringtech.com.

For investor relations please contact:

Michael Quast

VP Marketing & Communications Phone: 647-945-7521

Email: michaelquast@pioneeringtech.com

Forward Looking Statements

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology, governmental regulation and the impact of the COVID-19 pandemic. These forward- looking statements are made as of the date hereof an, except as required by applicable law, Pioneering does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Pioneering’s expectations and projections.

Non-IFRS Measures

Adjusted EBITDA is a measure not recognized under International Financial Reporting Standards (“IFRS”). However, management of Pioneering believes that most shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included as reported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, impairment losses, stock-based compensation, restructuring costs included in general and administration expense, fair value movement – derivative liability and other non-recurring gains or losses including transaction costs related to acquisition. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA does not have any standard meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that Adjusted EBITDA is not an alternative to measures determined in accordance with IFRS and should not, on its own, be construed as indicators of performance, cash flow or profitability. References to the Pioneering’s Adjusted EBITDA should be read in conjunction with the financial statements and management’s discussion and analysis of Pioneering posted on SEDAR (www.sedar.com). For a reconciliation of Adjusted EBITDA as presented by Pioneering to net income, please refer to Pioneering’s management’s discussion and analysis.

Tariff Adjusted EBITDA, defined as Adjusted EBITDA adjusted for tariff and tariff related costs, is used by management to measure operating performance of the Company and is a supplement to our unaudited condensed interim financial statements presented in accordance with IFRS. Tariff Adjusted EBITDA is a helpful measure of operating performance, similar to Adjusted EBITDA, enabling management and investors to gain a clearer understanding of the underlying financial performance of the Company without the impact of U.S. Section 301 tariffs and related costs. While management considers Tariff Adjusted EBITDA a meaningful measure for assessing the underlying financial performance of the Company, Tariff Adjusted EBITDA is a non-IFRS measure and does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Readers are cautioned that Tariff Adjusted EBITDA is not an alternative to measures determined in accordance with IFRS and should not, on its own, be construed as indicators of performance, cash flow or profitability. References to the Pioneering’s Tariff Adjusted EBITDA should be read in conjunction with the financial statements and management’s discussion and analysis of Pioneering posted on SEDAR (www.sedar.com). For a reconciliation of Tariff Adjusted EBITDA as presented by Pioneering to net income, please refer to Pioneering’s management’s discussion and analysis.

Neither the TSXV nor its Regulation Services Provider (as that term is defined under the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. 

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Mississauga, ON (June 1, 2020) – Pioneering Technology Corp. (TSXV: PTE) (“Pioneering” or the “Company”), a technology company and North America’s leader in cooking fire prevention technology and products, today announced that it intends to rely on the temporary blanket relief for market participants published on March 23, 2020 (the “Blanket Order”) by the Canadian Securities Administrators (the “CSA”) which provides for a 45-day extension to file its interim financial statements and interim Quarterly Management Discussion and Analysis (“MD&A”) for the second quarter ended March 31, 2020 (the “Q2 2020 Filings”).

The Company is relying on the temporary exemption granted pursuant to section 7 of Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements with respect to the requirement to file the Q2 2020 Filings as per sections 4.4 and 5.1(2) of National Instrument 51-102 Continuous Disclosure Obligations and section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings. The Company expects to file the Q2 2020 Filings no later than June 5, 2020.

Until the Q2 2020 Filings are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles of section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as previously disclosed by the Company, there have been no material business developments since March 2, 2020, the date the Company’s unaudited interim financial statements for the quarter ended December 31, 2019 were filed.

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About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario is an “energy smart” technology company and NorthAmerica’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 solutionsthat 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 temperature limiting control (TLC) technology is now installed in over 300,000 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 info, go to www.pioneeringtech.com.

For investor relations please contact:

Michael Quast

VP Marketing & Communications Phone: 647-945-7521

Email: michaelquast@pioneeringtech.com

Forward Looking Statements

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology and governmental regulation. These forward- looking statements are made as of the date hereof an, except as required by applicable law, Pioneering does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Pioneering’s expectations and projections.

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.

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Mississauga, ON – March 27, 2020– Pioneering Technology Corp. (“Pioneering” or the “Company”) (TSXV: PTE), a technology company and North America’s leader in cooking fire prevention technologies and products, is pleased to announce that at its annual general and special meeting held on March 26, 2020 all resolutions were approved by the requisite shareholder vote.

All seven of the Company’s incumbent directors, being Kevin Callahan, John Bergsma, David Dueck, Paul Harricks, Michael Kraft, Richard Adair and Meredith Appy, were re-elected. Shareholders also approved the re-appointment of RSM Canada LLP as the Company’s auditors and an amendment to the Company’s stock option plan to increase the number of common shares authorized for issuance thereunder to 11,208,349, being 20% of the total number of common shares currently outstanding.

About Pioneering Technology Corp.

Pioneering, based in Mississauga, Ontario 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 temperature limiting control (TLC) technology is now installed in over 300,000 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, go to www.pioneeringtech.com.

For more information please contact:

Michael Quast

VP Marketing & Communications

Phone: 647-945-7521 

Email:michaelquast@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.

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Mississauga, ON – March 23, 2020– Pioneering Technology Corp. (“Pioneering” or the “Company”) (TSXV: PTE), a technology company and North America’s leader in cooking fire prevention technologies and products, announced today that, due to the emerging public health impact of the COVID-19 pandemic, its annual and special meeting of shareholders will now be held at Pioneering’s offices located at 2400 Skymark Avenue, Unit 7, Mississauga, Ontario L4W 5K5. The time and date of the meeting – 1:00 pm (Toronto time) on March 26, 2020 – have not changed.

Pioneering is encouraging shareholders and others not to attend in person the annual meeting and Pioneering’s management will not be making a presentation at the meeting. Only registered shareholders and duly appointed proxyholders will be admitted to the meeting. Shareholders are encouraged to vote on the matters before the meeting by proxy or, in the case of beneficial shareholders, by following the voting instructions provided to them by their broker or other intermediary.

About Pioneering Technology Corp.

Pioneering, based in Mississauga, Ontario 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 temperature limiting control (TLC) technology is now installed in over 300,000 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, go to www.pioneeringtech.com.

For more information please contact:

Michael Quast

VP Marketing & Communications

Phone: 647-945-7521 

Email:michaelquast@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.

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Significantly improved revenue of $2.2 million & net income of $324,733 for the quarter.

Mississauga, ON (March 2, 2020) – Pioneering Technology Corp. (TSXV: PTE) (“Pioneering” or the “Company”), a technology company and North America’s leader in cooking fire prevention technology and products reports its unaudited financial results for the first quarter ended December 31, 2019. Pioneering’s unaudited condensed interim financial statements and MD&A are available on SEDAR (www.sedar.com).

Financial Highlights:

•          Revenue was $2,201,185 up 73% versus the same period year ago of $1,273,874.

•          Expenses in Q1 2020 were down 44% to $813,382 versus $1,463,453 in Q1 2019.

•          Net Income for the quarter was $324,733 versus a loss of $(756,241) in Q1 2019.

•          Adjusted EBITDA was $413,801 an improvement of 164% from Adjusted EBITDA of ($646,179) a year ago.

•          Gross margins remained strong at 53%.

•          The Company’s balance sheet improved during the period and remains strong.

After experiencing profitability and 50% year-over-year revenue growth in three consecutive fiscal years (2015, 2016 and 2017), the Company’s financial performance declined in fiscal 2018 and 2019 due to a number of factors, including: longer than normal sales cycles related to its transition from a direct sales model to a distributor model; investments in people, research and marketing; and the impact of activities by former executives/contractors of the Company whose employment was terminated in January 2019.

The Company believes that it has addressed many of these challenges and is now in a position to generate improved financial performance. The Company reduced expenses in the first quarter of 2020 that did not directly drive sales revenue or impact new product development. During the quarter, cash flow improved as revenue recovered on the strength of increased awareness and sales via the Company’s distribution network, investments in sales and marketing and reductions in operating expenses.

Selected Financial Highlights for the First Quarter ended December 31, 2019 and 2018

 Quarter Ended Dec. 31, 2019Quarter Ended Dec. 31, 2018
Revenue$2,201,185$1,273,874
Gross Profit1,166,923706,389
Expenses813,3821,463,453
Net Income (Loss)324,733(756,241)
EPS Basic (Loss)0.01(0.01)
Adjusted EBITDA(1)413,801(646,179)

(1) Adjusted EBITDA is a non-IFRS measure. Please refer to “Non-IFRS Measures” at the end of this press release.

Pioneering CEO Kevin Callahan said of the results, “We are very pleased with the progress we are making including the almost 200% improvement in revenue versus Q4 2019. The Company will continue working hard to get the business back to where it was prior to 2018 and growing. We are confident that the steps we have taken over the past year have positioned Pioneering to begin restoring shareholder value.”

Q1 2020 Business Highlights

Strong Balance Sheet: As at December 31, 2019, the Company has no debt, approximately $2.2 million in cash and total current assets of approximately $7.1 million. The Company currently has significant fully paid inventory on hand. The Company expects that this inventory will allow it to meet current demand.

New Vice President of Sales: During the quarter the Company hired a new Vice President of Sales, Tim Mulroney. Tim brings with him an impressive track record in sales and sales leadership. He has more than 18 years of team leadership experience, including 12 years leading direct sales for North America. Most recently, Tim spent seven years at Siamons International, makers of the Concrobium brand of non-toxic specialty mold cleaners, as their Senior Vice President, Global Sales. Like Pioneering, Siamons generates a significant amount of sales in the U.S., operates in a niche space, and focuses on the B2B market leveraging relationships with key distributors and broker partners. In seven years at Siamons, Tim was responsible for significant increases in sales. Prior to that, Tim spent more than 20 years with S.C. Johnson, a cleaning and household products company, where he held progressively more senior account management, sales management and customer marketing roles, culminating with the role of Vice President of Sales, leading a team of 65 sale professionals that generated hundreds of millions of dollars of sales. Tim has a Bachelor of Science from Queen’s University in Kingston and is a graduate of the Marketing Management Program at the University of Western Ontario in London.

HD Supply Partnership Activities: As part of its strategy to aggressively invest for growth with HD Supply USA, the Company is gaining direct access to key senior sales personnel at HD Supply across the U.S. who can facilitate product introductions to their key customers and enable trials and demonstrations of the Company’s products. The Company has also begun participating in annual catalogues and sales conferences at HD Supply. The Company will also begin to participate in the HDS sales outreach program which will allow the Company to disseminate key cooking fire information and key product information to the HDS sales organization to drive awareness and sales with end customers.

Current Marketing and Advertising Activities: The Company continues to invest in B2B advertising and awareness building to drive end-customer awareness for the SmartBurner, SmartRange and Safe-T-sensor products. The Company expects this investment to increase B2B sales leads. This advertising investment targets customers in the Company’s key B2B channels and is coordinated with the Company’s other awareness building and lead generation activities.

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About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario 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 temperature limiting control (TLC) technology is now installed in over 300,000 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 info, go to www.pioneeringtech.com.

For investor relations please contact:

Michael Quast

VP Marketing & Communications Phone: 647-945-7521

Email: michaelquast@pioneeringtech.com

Forward Looking Statements

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology and governmental regulation. These forward- looking statements are made as of the date hereof an, except as required by applicable law, Pioneering does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Pioneering’s expectations and projections.

Non-IFRS Measures

Adjusted EBITDA is a measure not recognized under International Financial Reporting Standards (“IFRS”). However, management of Pioneering believes that most shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included as reported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, impairment losses, stock-based compensation, restructuring costs included in general and administration expense, fair value movement – derivative liability and other non-recurring gains or losses including transaction costs related to acquisition. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA does not have any standard meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that Adjusted EBITDA is not an alternative to measures determined in accordance with IFRS and should not, on its own, be construed as indicators of performance, cash flow or profitability. References to the Pioneering’s Adjusted EBITDA should be read in conjunction with the financial statements and management’s discussion and analysis of Pioneering posted on SEDAR (www.sedar.com). For a reconciliation of Adjusted EBITDA as presented by Pioneering to net income, please refer to Pioneering’s management’s discussion and analysis.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release. (Not for dissemination in the United States of America)

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Mississauga, ON – February 25, 2020– Pioneering Technology Corp. (“Pioneering” or the “Company”) (TSXV: PTE), a technology company and North America’s leader in cooking fire prevention technologies and products, is pleased to announce that Tim Mulroney has joined the Company as its Vice President of Sales.

Tim brings with him an impressive track record in sales and sales leadership.  He has more than 18 years of team leadership experience, including 12 years leading direct sales for North America. Most recently, Tim spent seven years at Siamons International as their Senior Vice President, Global Sales. Like Pioneering, Siamons generates a significant amount of sales in the U.S., operates in a niche space, and focuses on the B2B market leveraging relationships with key distributors and broker partners. In seven years at Siamons, Tim was responsible for significant increases in sales.  Prior to that, Tim spent more than 20 years with S.C. Johnson, a cleaning and household products company, where he held progressively more senior account management, sales management and customer marketing roles, culminating with the role of Vice President of Sales, leading a team of 65 sale professionals that generated hundreds of millions of dollars of sales. Tim has a Bachelor of Science from Queen’s University in Kingston and is a graduate of the Marketing Management Program at the University of Western Ontario in London.   

John Bergsma, Chair of the Board of Directors, said: “Having Tim join Pioneering’s management team is very energizing.  The selection process was very thorough, and we believe that Tim was an excellent choice.  The Board has confidence that he brings the necessary skills and experience that can help deliver the sales results we have long believed this company is capable of achieving.”

Kevin Callahan, Chief Executive Officer, said: “We are very excited to have Tim on board and believe that he has the right mix of skill, proven results, and attitude.  Now that Pioneering has a seasoned professional leading our sales team, we can focus on returning the company to profitability in the short term and hitting our 3-year strategic goals.”

The Company also announced that it has granted an aggregate of 2,900,000 stock options to directors and officers of the Company, including Mr. Mulroney. The stock options are exercisable into common shares of the Company for a period of five years and will have an exercise price equal to the greater of (i) the closing price of Pioneering’s shares on the TSXV on the second trading day following the filing of Pioneering’s financial statements and MD&A for the quarter ended December 31, 2019 and (ii) $0.05.  These options have been granted pursuant to the Company’s Stock Option Plan, some of which are subject to vesting requirements.

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About Pioneering Technology Corp:Pioneering, based in Mississauga, Ontario 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 temperature limiting control (TLC) technology is now installed in over 300,000 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 info, go to www.pioneeringtech.com.

For investor relations please contact:

Michael Quast

VP Marketing & Communications

Phone: 647-945-7521 

Email:michaelquast@pioneeringtech.com

Forward Looking Statements

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology and governmental regulation. These forward-looking statements are made as of the date hereof an, except as required by applicable law, Pioneering does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Pioneering’s expectations and projections.

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.

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