Peak Announces Creation of Chinese Operating Subsidiary

MONTREAL, QC / ACCESSWIRE / June 29, 2016 / Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Peak” or the “Company”) today announced that its Chinese subsidiary, Asia Synergy Technologies Ltd. (“AST”), has been registered as an operating entity legally authorized to conduct business in China. AST was registered in Shanghai and has established its head office in the City of Wuxi in the province of Jiangsu.

The announcement marks a major milestone for the Company and clears the path to allow AST to begin to take over some of the plastic raw materials distribution activities of the Zhonghai Wanyue Group’s (“ZHWY Group”) subsidiaries as per the strategic partnership agreement between Peak and ZHWY Group Chairman, Mr. Jiang Wang.

Although the vast majority of AST’s operations are expected to be facilitated by the Gold River Fintech web-based platform, the company is also expected to engage in some offline transactions while Gold River hits its stride. “We started discussions with a handful of clients and suppliers while the company registration process was running its course,” commented AST CEO, Mr. Liang Qiu. “Until we get them using the online platform, we’ll start with some offline transactions, very similar to the transactions they are currently doing with ZHWY Group subsidiaries, so nothing will change for them in the short run.”

“We’ll eventually have the transactions go through Gold River, but for now, starting with offline transactions will ensure a smooth transition to Gold River and allow AST to generate revenues more quickly,” Mr. Qiu went on to say.

More Exercise of Warrants and Conversion of Debentures

Peak also announced that the Company issued 12,000 common shares at a price of $0.05 per share and 7,500,000 common shares at a price of $0.025 as a result of the exercise of common share purchase warrants. The Company also issued 536,220 additional common shares at a price of $0.05 per share as a result of the exercise of the conversion feature of secured convertible debentures.

The announced transactions combine to add $188,100 to the Company’s cash flow and remove $26,811’s worth of short-term debt from its books.

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

Carl Desjardins
Managing Partner
Paradox Public Relations Inc.
Phone: 514-341-0408  
Email: carldesjardins@paradox-pr.ca

Or

Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com

SOURCE: Peak Positioning Technologies Inc. 

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