Pioneering Technology Corp. Announces Non-Brokered Private Placement

(via Thenewswire.ca)

Mississauga, ON - December 14, 2012 - Pioneering Technology Corp. (the "Company") (TSXV: PTE) announces that it intends to carry out, subject to approval from the TSX Venture Exchange (the "TSXV"), a non-brokered private placement to insiders of the Company ("Insiders") and others for gross proceeds of up to $750,000 (the "Private Placement"). The proceeds will be used by the company for working capital and to fund the development and launch of new products.

The Private Placement will consist of up to 7,500,000 units of the Company (each, a "Unit"), at a price of $0.10 per Unit. Each Unit will consist of one common share of the Company (each, a "Common Share") along with one- half of one Common Share purchase warrant (each, a "Warrant"). Each whole warrant may be exercised for one additional Common Share at a price of $0.15 per Common Share for a period of two years from the closing of the Private Placement.

Units will be offered pursuant to exemptions from prospectus requirements of applicable securities legislation. Securities issued pursuant to the Private Placement will be subject to a hold period of four months and a day from the date of issuance of the securities.

As Insiders will participate in the Private Placement, any such subscriptions will be considered to be related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such Insider participation.

For further information contact: Kevin Callahan, President & CEO at (905) 712-2061 ext. 222.

Forward Looking Statements

The statements made in this press release include forward-looking statements, including statements regarding the Company's intention to carry out the Private Placement and the anticipated terms thereof, 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 the Company's target markets, the demand for the Company's products, the availability of funding, the efficacy of the Company's technology and governmental regulation. These forward-looking statements are made as of the date hereof an, except as required by applicable law, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations and projections.

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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