/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
TORONTO, Feb. 16 /CNW/ - Lemontonic Inc. ("Lemontonic" or the
"Corporation") (TSX Venture: LEM-X) announced it has today completed the
shareholder approved business combination (the "Business Combination") with
Pioneering Technology Inc. ("Pioneering") pursuant to the amended and restated
amalgamation agreement dated December 19, 2005 (the "Restated Amalgamation
Agreement"). The business combination was first announced in Lemontonic's
press release of May 24, 2005 and revised terms were disclosed in the
Corporation's September 19, 2005 press release. The name of the amalgamated
corporation will be Pioneering Technology Inc.
About Pioneering
Pioneering is an "Energy-Smart" product innovation company based in
Mississauga, Ontario that creates platform and derivative technologies that
manage, control and transform heat into useful forms of energy. Pioneering
engineers and brings to market energy smart solutions for consumer products
making them safer, smarter and/or more efficient. Pioneering's business to
business model is focused on developing innovative solutions for existing
industry problems and licensing or selling its proprietary product components
to leading Original Equipment Manufacturer's and other established
distribution channels.
Investors are cautioned that, except as disclosed in the Information
Circular of the Corporation, any information released or received with respect
to the Business Combination may not be accurate or complete and should not be
relied upon. Trading in the securities of the Corporation should be considered
highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
Business Combination and has neither approved nor disapproved the contents of
this press release.
