SEL

Penfold Capital Acquisition IV Corporation (the "Company") (TSX VENTURE:SEL)
announces a delay in filing its annual financial statements, accompanying
Management's Discussion and Analysis and related CEO and CFO Certifications of
Annual Filings for the financial year ended September 30, 2013 (collectively,
the "Required Filings"), within the period prescribed for the filing of such
documents under Parts 4 and 5 of Regulation 51-102 respecting Continuous
Disclosure Obligations and pursuant to Regulation 52-109 respecting
Certification of Disclosure in Issuers' Annual and Interim Filings, namely
within 120 days of year-end, being January 28, 2014 (the "Filing Deadline").


The delay in filing the Required Filings is primarily attributable to the
additional time and efforts required by the Company with its auditors in order
to complete the Issuer's audited annual financial statements and finalize the
accompanying Management's Discussion and Analysis. 


The Company's Board of Directors and its management will be working
expeditiously with the Company's auditors to meet the Company's obligations
relating to the filing of the Required Filings. The Company expects to file the
Required Filings on or before February 7, 2014.


As a result of the postponement in the filing of its Required Filings, the
Company will make an application to the Ontario Securities Commission (the
"OSC") for a management cease trade order (the "MCTO"), which would restrict all
trading in securities of the Company, whether direct or indirect, by management
of the Company. The MCTO would not affect the ability of shareholders who are
not insiders of the Company to trade their securities. There is no certainty
that the MCTO will be granted. If the MCTO is not issued by the OSC, the
applicable Canadian securities regulatory authorities could issue a general
cease trade order against the Company for failure to file the Required Filings
within the prescribed time period.


The Company confirms that it intends to satisfy the provisions of the
alternative information guidelines found at sections 4.3 and 4.4 of Policy
Statement 12-203 respecting Cease Trade Orders for Continuous Disclosure
Defaults, for so long as it remains in default as a result of the late filing of
the Required Filings. During the period of default, the Company will issue
bi-weekly default status reports in the form of further press releases, which
will also be filed on SEDAR. The Company confirms that there are no insolvency
proceedings against it as of the date of this press release. The Company also
confirms that there is no other material information concerning the affairs of
the Company that has not been generally disclosed as of the date of this press
release.


About Penfold Capital Acquisition IV Corporation

The Company, through its wholly owned subsidiary SLM, is dedicated to managing
consumer and retail store returns and defective and problematic electronics
through product end-of-life management. The Company provides manages 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 Company is able to recycle the
non-saleable returns it receives, thereby allowing customer returns to have a
very low environmental impact. An independent Waste Audit Report shows that the
Company is able to achieve a waste diversion rate of 98.6%. This means that
companies using the Company's processes are able to divert 98.6% of their
product from landfill sites. The Company is currently working on rolling out
this product offering to retailers to allow them to capture the environmentally
conscious consumer. The Company currently operates only in Ontario.


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 Company cautions
investors that any forward-looking information provided by the Company 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 Company's securities; the state of the industry; recent market volatility;
the Company's ability to raise the necessary capital or to be fully able to
implement its business strategies; and other risks and factors that the Company
is unaware of at this time. The Company expressly disclaims any obligation to
update any forward-looking statements except as may be required by law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Penfold Capital Acquisition IV Corporation
Vito Buffone
Chief Executive Officer
vito.buffone@slm-logistics.com


Penfold Capital Acquisition IV Corporation
Paul Haber
Interim Chief Financial Officer
phaber@blackbirchcap.com

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