Penfold Capital Acquisition IV Corporation Provides Default Status Report

Penfold Capital Acquisition IV Corporation (the "Company") (TSX VENTURE:SEL),
announces that it has been granted a Temporary Management Cease Trade Order (the
"Temporary MCTO") by its principal regulator, the Ontario Securities Commission.
As previously announced on January 29, 2014, a MCTO was made by the Company in
respect of the late filing of the Company's 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"). 


The Temporary MCTO restricts all trading in securities of the Company, whether
direct or indirect, by the Chief Executive Officer, the Chief Financial Officer
and the directors of the Company, until such time as the Required Filings have
been filed by the Company. All other parties are permitted to freely trade in
the Company's securities. The Ontario Securities Commission has given notice of
a hearing to be held on February 18, 2014, for the purposes of making the
Temporary MCTO permanent if the Company has not remedied the default in the
filing the Required Filings. 


As previously announced, the Company was not in a position to timely file its
Required Filings, primarily as a result of additional time required to complete
the audit of the Company's annual financial statements. The Company's board of
directors and its management confirm that they are working expeditiously with
the Company's auditors to meet the Company's obligations relating to the filing
of the Required Filings, and the Company continues to expect to file the
Required Filings on or before February 18, 2014. 


The Company confirms that it will satisfy the provisions of the alternative
information guidelines under Section 4.4 of National Policy Statement 12-203
respecting Cease Trade Orders for Continuous Disclosure Defaults, for so long as
it remains in default, by issuing bi-weekly default status reports in the form
of further news 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 news 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 news 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
[e-mail]


Penfold Capital Acquisition IV Corporation
Paul Haber
Interim Chief Financial Officer
[e-mail]