Penfold Capital Acquisition IV Corporation

June 23, 2014 09:04 ET

Penfold Capital Acquisition IV Corporation: SLM Logistics Corp. Begins Operations in the U.S.A.

TORONTO, ONTARIO--(Marketwired - June 23, 2014) - Penfold Capital Acquisition IV Corporation (the "Corporation") (TSX VENTURE:SEL) is pleased to announce that it has commenced operations in the United States with its wholly owned subsidiary SEL Exchange USA, Inc. ("SEL") and will be operating as SLM Logistics Corporation ("SLM").

SLM commenced operations in Murfreesboro, Tennessee, opening a 50,000 sq. ft. facility 30 miles from Nashville. SLM will service the Corporation's American based customers from the Tennessee facility. The opening of the Tennessee facility will permit the Corporation to significantly reduce transportation expense, time and will allow it to better serve its current customers American operations.

Since opening its facility, the Corporation has begun receiving consumer returns from a major US retailer and has negotiated to begin servicing additional product lines from this customer while servicing additional customers for its end of life product management services. Some of the products that are and will be serviced in the Tennessee facility are presently sent to land fill. The Corporation estimates that approximately initially 25 truckloads per year will be diverted from landfill and the various products will be salvaged and properly recycled. The Tennessee facility will also provide its customers with technical repair services presently conducted by the Corporation's wholly owned subsidiary, Service Results Technology Inc. (SRT"). Both the SRT and SLM services will be operated in the US under the SLM brand as one (1) entity.

"Opening our Tennessee facility is a key milestone for SLM this year," said Vito Buffone, President and CEO of the Corporation. "The expansion into the United States came from our present customers' needs to help with their current asset recovery and landfill issues. This expansion will allow SLM to better penetrate the largest retail market in the world and will enable it to better serve all of its customers' US based needs."

About Penfold Capital Acquisition IV Corporation

The Corporation, through its wholly owned subsidiaries SLM Logistics Corporation and Service Results Technology Inc. is dedicated to managing consumer and retail store returns and problematic electronics through a product management system. The Corporations manage product warranties, service repairs, consumer returns from receiving to end-of-life with quality assurance testing, factory servicing, resale through non-traditional channels and recycling of non saleable product to support a closed-loop distribution process. The Corporation is able to recycle the non-saleable returns it receives, thereby allowing customer returns to have a very low environmental impact. Independent Waste Audit Reports, since 2011, show the Corporation is able to achieve a consistent waste diversion rate of over 98.6%. This means brands using the Corporation's processes are able to divert over 98.6% of their product from landfill. The Corporation is currently working on rolling out this product offering to retailers to allow them to capture the environmentally conscious consumer. The Corporation currently operates only in Ontario and Tennessee.

Neither 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.

Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Corporation cautions investors that any forward-looking information provided by the Corporation is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Corporation 's securities; the state of the industry; recent market volatility; the Corporation 's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Corporation is unaware of at this time. The Corporation expressly disclaims any obligation to update any forward-looking statements except as may be required by law.

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