Peak Files 2015 Year End Results and Operating Highlights

Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Peak” or the “Company”) today announced its financial results and reviewed highlights for the year ended December 31, 2015

MONTREAL, QC / ACCESSWIRE / April 22, 2016 / Financial Highlights:

– $851,000 of private placement financing
– $100,000 advance received on $4M strategic investment partnership with the Shanghai based Zhonghai Wanyue Group (the “ZHWY Group”)
– Elimination of over $840,000 of debt through restructured agreement with Quick Technologies LLC
– Impairment of goodwill and Quickable.com technology platform of over $1.1M
– Addition of conversion feature and 12-month extension of $278,000 secured debenture with original maturity date of January 1st 2016
– Net loss of $1,828,399

Operating Highlights:

– Renegotiation of acquisition terms of LongKey Hong Kong Limited (“LongKey”)
– Migration from TSX Venture Exchange to Canadian Securities Exchange
– Signing of $4M strategic investment partnership with the ZHWY Group

Peak continued to make strides in 2015 to become an attractive vehicle for North American investors to invest in promising Chinese technology companies. The Company took concrete steps during the year to significantly improve its balance sheet and eliminated almost $1M’s worth of liabilities from its books, an initiative Peak expects to carry into 2016. Peak also positioned itself to be able to acquire 100% of LongKey, first by migrating from the TSX Venture Exchange to the Canadian Securities Exchange, which would be more favorable to the proposed transaction, and secondly by agreeing with LongKey’s shareholders to renegotiate the terms of the proposed acquisition. Finally, Peak signed a strategic investment partnership with the ZHWY Group that, when completed, will give the Company immediate access to financial resources and ZHWY Group operating assets to execute its mission to give its shareholders access to promising opportunities in the Chinese tech space. The Company expects its pending partnership transaction with the ZHWY Group to close by the end of April 2016.

Outlook for 2016:

With the signing of their strategic partnership, Peak and the ZHWY Group aim to reshape the landscape of certain Chinese industrial sectors through the development of a series of Internet-based financial technology (fintech) platforms, starting with the plastics industry in 2016. The general idea is to take transactions that are currently being conducted offline, for example the ordering and distribution of plastics raw materials, and bringing those transactions online through Internet-based fintech platforms. The platforms will provide online transaction processing and financial settlement capabilities, which certain Chinese industrial sectors currently lack. They will also allow Peak’s Chinese operating subsidiary to collect valuable data on platform users and their transactions to then be able to offer these users valued-added services such as purchase order financing and other financial services.

Peak’s focus in 2016 will include ensuring that its Chinese operating subsidiary is established and up and running in a timely fashion to allow for the operations of its “Gold River” fintech platform to begin by the second quarter of 2016. The Company will also pay particular attention to the accounting and internal controls and procedures put in place at its subsidiaries in Hong Kong and China to ensure the proper reporting of their financial statements. The Company began taking steps to that end in December 2015, which are expected to continue throughout 2016. Peak anticipates that a large portion of its executive management’s time in 2016 will be spent on helping setup, understand and ensure the proper reporting of the operations of its Asian subsidiaries.

Fiscal 2015 financial results summary:

The Company generated $36,400 in consulting revenue for the year ended December 31, 2015 compared to $51,465 in 2014. Expenses for fiscal 2015 amounted to $1,864,494, compared to $1,381,080 in 2014. If we exclude the non-recurring items such as impairment of goodwill $698,750 compared to $400,000 in 2014, impairment of technology $491,084 compared to $0 in 2014, forgiveness of debt and extinguishment of debt of $524,801 compared to $0 in 2014 and gain on contingent compensation payable of $230,000 compared to $130,000 in 2014, the difference can be explained by an increase in consulting fees, professional fees, management fees and finance costs. Salaries, fringe and subcontracting went down in 2015 to $11,524 largely due to the Company’s decision to lay off its mobile development team in the 2^nd quarter of 2014.

The net loss for the year was $1,828,399 compared to $1,247,540 in 2014. Full details of the Company’s 2015 financial results can be found in the Audited Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) for the years ended December 31, 2015 and 2014, which are available at www.sedar.com.

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.

ReleaseID: 439140