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Pioneer Announces Private Placement of $1.0 Million

/EIN News/ -- NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Pioneer Media Holdings Inc. (NEO: JPEG, AQSE: PNER) (“Pioneer” or the “Company”), a web3 gaming and infrastructure company, today announces its intention of raise up to $1,000,000, on a non-brokered private placement (the “Private Placement”) basis, through the sale of units at $0.10 per unit. Each unit is comprised of one common share and one-half of a transferable common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Company for a period of 24 months following the Private Placement closing at an exercise price of $0.25.

The Company intends to use the proceeds raised from the Private Placement to continue executing on its strategic growth strategy, ongoing technology development and for general working capital and corporate purposes.

Closing of the Private Placement is subject to certain customary conditions, including the receipt of all necessary regulatory approvals and acceptance of the NEO Exchange. All securities issued under the Private Placement will be subject to a statutory four month hold period following the date of closing of the Private Placement.

The Company may pay a finder’s fee in connection with the Private Placement to eligible finders comprised of: (i) a fee payable in cash equal to up to 6.0% of the gross proceeds raised in the Private Placement from investors introduced by the applicable finder; and (ii) such number of transferrable warrants (the “Finder’s Warrants”) that is equal to up to 6.0% of the number of units sold to investors introduced by such finder. Each Finder’s Warrant will be exercisable into one common share of the Company at a price equal to $0.10 per share for a period of 24 months from issuance.

About Pioneer Media Holdings Inc.

Pioneer (NEO:JPEG, AQSE: PNER) is a leading web3 gaming and infrastructure company using its proprietary suite of technology, MetaKit, to build and convert games and applications for the blockchain. Pioneer has built a complete web3 gaming ecosystem which includes content and game development; infrastructure and web2 conversion; and distribution and global publishing. Through strategic distribution partnerships, Pioneer will continue to focus on launching successful play to earn (P2E) games to mass markets globally, and drive user engagement and adoption and therefore meaningful revenue generation.

Web3 gaming is at the forefront of a new wave of technology and there is significant opportunity for growth as an early adopter in the industry. Even in its infancy, there is a significant influx of capital, both public and private, and attention on the bourgeoning sector. Additional information about Pioneer is available at www.p10neer.com or www.sedar.com.

ON BEHALF OF PIONEER MEDIA HOLDINGS INC.

Darcy Taylor

CEO & Director
ir@p10neer.com

First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)
Brian Stockbridge +44 7876 888 011

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, and such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities to be sold under the Private Placement have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the US Securities Act) unless registered under the US Securities Act and applicable state securities laws, or an exemption from such registration is available.


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