Montreal, Quebec--(Newsfile Corp. - December 22, 2017) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that $6.35M of secured debentures issued as part of the $12M secured debenture private placement financing closed on December 15, 2017 (the "Financing"), were surrendered to the Company to exercise common share purchase warrants.
As a result of the surrender of the debentures and simultaneous exercise of warrants, the Company issued a total of 127M common shares at a price of $0.05 per share. This leaves the Company with a total of $5.65M in outstanding secured debentures from the original amount of $12M at the closing of the Financing.
The Company also announced that it granted a total of 5M stock options to certain officers and directors of the Company who were instrumental in securing the Financing and for having voluntarily transferred a total of 191M common share purchase warrants with a $0.05 strike price to investors who subscribed to units of the Financing. The stock options granted vest over a 2-year period and allow the holders to purchase common shares of the Company at a price of $0.08 per share over a 5-year period.
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
Contact information:
Cathy Hume
CEO
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
Email: cathy@chfir.com
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com
