SLM

Penfold Capital Acquisition IV Corporation (the "Company") is pleased to
announce that it has received final TSX Venture Exchange ("TSXV") approval and
therefore has closed its qualifying transaction (the "Qualifying Transaction")
with SLM Logistics Corporation ("SLM"), as further described in the Company's
Filing Statement dated April 25, 2013 (the "Filing Statement"), pursuant to
which the Company acquired all of the issued and outstanding securities of SLM.
SLM is a private company incorporated in Ontario that is dedicated to managing
consumer and retail store returns and defective and problematic electronics to
product end of life management.


The common shares of the Company will commence trading on the TSXV under the
symbol "SEL" at the open of markets on May 13, 2013. The Company intends on
calling a shareholders' meeting no later than six months from closing of the
Qualifying Transaction to change the name of the company to SLM Logistics
Corporation.


Upon completion of the Qualifying Transaction the Company now has the following
securities issued and outstanding:




Shares issued and outstanding:                              46,074,745      
                                                                            
Warrants issued and outstanding:                            4,395,291       
                                                                            
Options issued and outstanding:                             1,260,000       
                                                                            
Fully diluted:                                              51,730,036      



For full disclosure regarding the Qualifying Transaction and the business of the
Company, please refer to the Filing Statement, a copy of which can be accessed
through the Company's profile on SEDAR (www.sedar.com).


The Financings and Debt Conversions

Concurrent with the completion of the Qualifying Transaction, SLM closed a
private placement of 2,278,636 units ("Units") at an issue price of $0.11 each
for gross proceeds of $250,650 (the "Financing"). Each Unit consists of one
common share of SLM ("SLM Share") and one half of one common share purchase
warrant ("SLM Warrants") entitling the holder thereof to acquire one SLM Share
at an exercise price of $0.15 per SLM Share for a period of 2 years from the
completion of the Qualifying Transaction. 


In addition, immediately prior to the closing of the Qualifying Transaction, SLM
issued (i) 5,511,945 Units pursuant to a debt conversion agreement with Vito
Buffone at a deemed price of $0.11 per Unit (the "Debt Conversion"); (ii)
1,000,000 SLM Shares and 500,000 SLM Warrants pursuant to the conversion of the
SLM Series A Debentures (the "SLM Series A Debenture Conversion"); and (iii) an
aggregate of 684,164 SLM Shares pursuant to a debt conversion agreement with
BlackBirch Capital Inc. dated January 25, 2012 (the "BlackBirch Debt
Conversion"), consisting of 616,364 SLM Shares at a deemed price of $0.11 per
SLM Share and 67,800 SLM Shares at a deemed price of $0.25 per SLM Share. 


The Qualifying Transaction

Pursuant to the terms of the share exchange agreement between the Company, SLM
and certain shareholders of SLM dated July 3, 2012, the Company received one
Penfold common share ("Penfold Shares") in exchange for each SLM Share issued
pursuant to the Financing, the SLM Debt Conversion, the SLM Series A Debenture
Conversion and the BlackBirch Debt Conversion. Further, 24,000,000 Penfold
Shares were exchanged for the 70 outstanding SLM Shares.


In accordance with the policies of the TSXV, a total of 29,511,945 Penfold
Shares are subject to a Tier 2 surplus security escrow agreement (the "Escrow
Agreement"). The Escrow Agreement provides for staged releases over a period of
three (3) years. 


As further disclosed in the Filing Statement, in conjunction with the closing of
the Qualifying Transaction, the following individuals have been appointed as the
directors and officers of the Corporation:




Name                                    Position(s)                         
----------------------------------------------------------------------------
                                                                            
Vito Buffone                            CEO and Director                    
Gary Clifford                           Director                            
Don Hathaway                            Director                            
Leslie Markow                           Chief Financial Officer             
Henry Tse                               Director                            
Jay Vieira                              Corporate Secretary                 



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 to
product end of life management. The Company provides accountable management of
returns from receiving to end of life with quality assurance testing, factory
servicing of returns, resale of returns through non traditional channels and
recycling of non saleable product to support a closed-loop, first-tier
distribution. The Company is unique in that it is able to fully recycle the non
saleable returns it receives, thereby allowing customers' return to have a very
low environmental impact. The Company has had an independent Waste Audit Report
completed which shows that the Company is able to achieve a waste diversion rate
of 98.61%. This means that companies working with the Company's processes are
able to divert 98.61% of their product from landfill sites. The Company is
currently working on rolling out this product offering to a number of retailers
to allow them to better capture the environmentally conscious consumer. The
Company currently operates only in Ontario.


FORWARD-LOOKING STATEMENTS

Investors are cautioned that, except as disclosed in Filing Statement filed in
connection with the Qualifying Transaction, any information released or received
with respect to the Transaction may not be accurate or complete and should not
be relied upon. 


This press release contains forward-looking information within the meaning of
Canadian securities laws. Although the Company believes that such information is
reasonable, it can give no assurance that such expectations will prove to be
correct.


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 resulting issuer's industry in the
event the Qualifying Transaction is completed; 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: 
Vito Buffone
Chief Executive Officer
vito.buffone@slm-logistics.com

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