Peak (CSE: PKK) Executives to Travel to China to Prepare Launch of ASFC Operations
Montreal, Quebec - March 9, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that members of the Company's executive team will travel to China on March 11, 2018 for a series of meetings with its strategic partners related to the upcoming launch of the Company's financial services subsidiary Asia Synergy Financial Capital ("ASFC").
The Company's Chinese-based executive and senior executives of its strategic partner in ASFC, Jiu Dong Limited ("Jiu Dong"), have been working closely with the Wuxi Municipal Financial Affairs Office to obtain the final approval for the registration of ASFC. Peak's Canadian-based executives have also been involved throughout the process, which the parties have now deemed to be far enough along to start taking concrete measures to prepare for ASFC's first transactions. So the Company's Canadian-based executives will travel to China to discuss ASFC's operational and strategic plans for 2018 and its short-term financial objectives. The talks will also include the planning of an event to be held in Montreal this spring to introduce Jiu Dong's executives to the Canadian investment community while presenting Peak's vision for ASFC and the future of small business lending in China.
Surrender of $1M of Secured Debentures to Exercise Share Purchase Warrants
The Company also announced that on February 7, 2018, $1M of secured debentures was surrendered to exercise share purchase warrants at a price of $0.05 per share pursuant to the private placement that closed on December 15, 2017. The Company therefore issued 20M common shares at a price of $0.05 per share to the debenture holder. This transaction now leaves the Company with a total amount outstanding of $4.65M in secured debentures, reduced by $7.35M from the original amount of $12M.
Update of Peak Website and Executive Summary Presentation
Peak also announced that it has updated its website (http://www.peakpositioning.com) to better reflect the business model first presented to its shareholders in April 2017, in which ASFC is expected to play a pivotal role. The updated website also features Peak's latest corporate executive summary presentation which provides additional information on the Company's subsidiaries and their respective revenue models.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of high-growth-potential companies and assets in some of the fastest growing tech sectors in China, including Fintech, e-commerce and cloud-computing. Peak provides its shareholders with exceptional growth potential by giving them access to the fastest-growing sectors of the world's fastest-growing economy. For more information: http://www.peakpositioning.com
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Forward-Looking Statements / Information:
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including "anticipate", "believe", "could", "expect", "intend", "may", "plan", "potential", "project", "seek", "should", "will", "would" and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
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