Pioneer Changes Board Composition

VANCOUVER, British Columbia, May 31, 2023 (GLOBE NEWSWIRE) -- Pioneer Media Holdings Inc. (NEO: JPEG) ("Pioneer" or the "Company"), a web3 gaming and infrastructure company, today announces that Mike Edwards will resign from board of directors and Chairman role effective today, May 31, 2023.

Darcy Taylor, CEO and Director commented, "It is with heartfelt appreciation that we announce the resignation of Mike Edwards from his role as Chairman and Director of Pioneer. We extend our sincerest gratitude to Mr. Edwards for his dedicated service and invaluable contributions to our organization. Mr. Edwards has been a pivotal part of the growth and strategic direction of Pioneer and the board and management team wish him well with his future endeavours."

Pioneer plans to identify and evaluate alternatives with respect to the appointment of a new director and Chairman to fill the vacancy left by Mr. Edwards departure.

About Pioneer Media Holdings Inc.

Pioneer (NEO:JPEG) 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
[email protected]

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.