Pioneering Technology Corp.
TSX VENTURE : PTE
OTC PINK : PTEFF

Pioneering Technology Corp.

March 09, 2017 07:30 ET

Insurance Premium Reductions Offered to All Ontario Social Housing Providers that Install Pioneering's Cooking Fire Prevention Products

MISSISSAUGA, ONTARIO--(Marketwired - March 9, 2017) - Pioneering Technology Corporation (TSX VENTURE: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 that the Ontario's Housing Services Corporation (HSC) will now provide an annual discount of 4% off of the property insurance premiums to all of Ontario social housing operators in its insurance program who install either the SmartBurner or Safe-T-element products in their properties.

HSC delivers services to over 100,000 housing units in Ontario that help operators improve building efficiency and reduce utility costs; protect them from liability and support effective risk management; and help them maximize capital dollars via effective asset and data management. HSC's insurance program is one of the largest group programs in North America, delivering competitive premiums and guaranteed coverage that is tailored specifically to the needs of the social housing sector. The program also provides education on risk management, liability and loss prevention.

Housing Services Corporation CEO Howie Wong said of the announcement, "Cooking fires are a common cause of fires in residential buildings everywhere. SmartBurner and Safe-T-element help reduce the risk. The annual insurance premium discount we now offer will help us improve fire safety in social housing buildings across Ontario."

Pioneering CEO Kevin Callahan commented, "We have had great success with our products in Ontario social housing. Pioneering's products are mandated in several Ontario public housing jurisdictions and deliver a meaningful return on investment by helping eliminate the costs related to cooking fires and reducing energy consumption. This new partnership with HSC will accelerate that activity and provide all public housing providers in Ontario with solutions to help protect their properties, maximize cost savings and make the best use of tax payer dollars."

About HSC: The Housing Services Corporation (HSC) is a non-profit organization that is committed to safe and affordable housing that improves Ontarians quality of life. Since 2002, HSC has worked with Ontario's 1,400+ social housing providers and 47 service managers to help them make the best use of their resources and manage their building portfolios more effectively. We help protect Ontario's $40 billion housing asset with services specially designed to address social housing business needs. Our hands-on services help social housing operators improve building efficiency and reduce utility costs; protect them from liability and support effective risk management and; help maximize capital dollars via effective asset and data management.

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. Pioneering engineers and brings to market energy-smart solutions for everyday consumer appliances making them safer, smarter, and more efficient. The company's patented technologies/products address a multi-billion-dollar problem - 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 (48% of all household fires - up from 20% in 1980). Pioneering's temperature limiting control (TLC) technology is now installed in approximately 200,000 multi-residential housing units across North America without a single cooking fire being reported and delivering a return on investment for its customers. Pioneering has proprietary cooking fire prevention solutions, including its trademarked Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor, for most of the more than 140 million stoves/ranges and over 140 million microwave ovens throughout North America. For more info, go to 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.

Contact Information

  • Pioneering Technology Corp.
    Kevin Callahan, President & CEO
    Phone: 905-712-2061 ext. 222
    Email: kcallahan@pioneeringtech.com
    220 Britannia Road East
    Mississauga, ON L4Z 1S6

    Contact Financial Corp.
    Rob Gamley, Investor Relations
    Phone: 604-689-7422
    Email: rob@contactfinancial.com
    1450 - 701 West Georgia St.
    Vancouver, BC V7Y 1G5