|By Marketwired .||
|August 12, 2014 09:00 AM EDT|
TORONTO, ONTARIO -- (Marketwired) -- 08/12/14 -- SEL Exchange Inc. (formerly Penfold Capital Acquisition IV Corporation) (TSX VENTURE: SEL) (the "Corporation") is pleased to announce that it continues to increase business at its U.S. operations.
The Corporation has been notified by a current customer (a large U.S. based retailer) that it would like to expand its current relationship with the Corporation and add an additional product line for the Corporation's end of life services. The Corporation estimates that this additional business will generate significant additional annual revenue.
"We are very excited that this significant customer has been satisfied with our end of life services and is expanding our relationship with them", said Vito Buffone, President and CEO of the Corporation.
About SEL Exchange Inc.
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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