Montreal, Quebec--(Newsfile Corp. - January 23, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that as per its agreement with Wenyi Financial Services Co. Ltd. ("Wenyi"), the process started on January 1, 2019 to transfer all loans that were previously being serviced by Wenyi to its Asia Synergy Credit Solutions ("ASCS") subsidiary was successfully completed on January 18, 2019. As of the transfer completion date, ASCS was servicing a total of 232 loans worth a combined CAD$17.8M.
In addition to the loans transferred from Wenyi and following the recently announced agreement between ASCS and Wuxi Union SME Guarantee Co. Ltd., ASCS will begin servicing loans on behalf of Wuxi Rural Commercial Bank (http://www.wrcb.com.cn/) for an aggregate amount of up to CAD$1B. ASCS receives a service fee amounting to a 6% to 8% annual rate of the amount of the loans it services payable on a monthly basis.
Upcoming CEO Q&A Interview
Given the recent developments surrounding its operations, the Company will conduct and publish a Q&A interview with its CEO to help answer some of the questions that its shareholders may have following its latest announcements. Shareholders are invited to submit their questions to investors@peakpositioning.com by 5:00pm Montreal time on Friday January 25, 2019 with the subject line: January 2019 CEO Q and A. The date of publication of the interview will be communicated in a future news release.
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 promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China's industrial sectors through the latest advancements in technology. For more information: http://www.peakpositioning.com
For more information, please contact:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 231
cathy@chfir.com
Peak Positioning Technologies Inc.
Johnson Joseph, President and CEO
514-340-7775 ext.: 501
investors@peakpositioning.com
Twitter: @PeakPositioning
Facebook: @peakpositioning
LinkedIn: Peak Positioning
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.
