- 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.