Montreal, Quebec--(Newsfile Corp. - July 4, 2017) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that its subsidiary, Asia Synergy Data Solutions ("ASDS"), has deployed the Cubeler fintech commercial lending platform in China and has applied for the necessary Internet Content Provider (ICP) license before the platform can be made available publicly. The ICP license is issued by the Chinese Ministry of Industry and Information Technology and must be obtained by all Chinese-based websites before they can operate in China.
ASDS expects the first transactions to be conducted on Cubeler shortly after it has received its ICP license.
Exercise of Warrants and Options, Conversion of Debentures and Granting of Stock Options:
Peak also announced the following recent transactions related to its securities:
On June 1, 2017 the Company granted 8.3M stock options to certain officers, directors and consultants of the Company. The options will expire on June 1, 2022, have an exercise price of $0.105, and will vest over a period of 2 years. On June 14, 2017 the Company issued a total of 550,000 common shares as a result of the exercise of 400,000 share purchase warrants at a price of $0.025 per shares and the exercise of 150,000 stock options at a price of $0.05 per share for net proceeds of $17,500. Finally, on June 30, 2017, the Company issued 2,120,320 common shares at a price of $0.05 per share as a result of the exercise of the conversion feature of $106,016 of convertible debentures by certain directors and officers of the Company.
About the Cubeler Platform:
Cubeler is a commercial lending platform that matches any business looking for credit with a variety of lenders. Cubeler periodically reads financial data coming from the registered businesses' accounting software, analyses several data points and calculates a series of financial ratios to determine how well the business is performing. Those data points and ratios are then compared to Cubeler's registered lenders' lending criterial and the resulting matches are shown to the lenders and the businesses, much like the way a dating website would show its members their compatible matches.
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 Investor Relations
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
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.
