Peak Files 2016 First Quarter Results and Operating Highlights

MONTREAL, QC / ACCESSWIRE / May 27, 2016 / Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Peak” or the “Company”) today announced its financial results and reviewed highlights for the first quarter ended March 31, 2016.

Financial Results Summary:

$40,000 advance received on total $4M strategic investment partnership agreement
Elimination of $38,200 of debt through the issuance of shares
Exercise of warrants totalling $18,585
Net loss of $309,144

Operating Results Summary:

Extension and term re-negotiation of debentures totalling $816,000
Introduction of Mr. Jiang Wang and Shanghai based Zhonghai Wanyue Group conglomerate to Company stakeholders
Re-branding and revamping of Company’s website to reflect pending Chinese partnership
Establishment of Hong Kong based holding subsidiary Asia Synergy Limited

About First Quarter Financial Results Summary:

As the Company ceased its web development and IT consulting activities in 2015, it generated no revenues for the quarter ended March 31, 2016 compared to $20,120 in 2015. Expenses for the quarter amounted to $309,144, compared to $235,905 in 2015. The increase in expenses is mainly due to consulting fees, management fees and public relations fees while there was a reduction in professional fees and in asset amortization.

The net loss for the three month period ending March 31, 2015 was $309,144 compared to $215,785 for the same period of 2015.

Full details of the Company’s 2016 financial results can be found in the Interim Unaudited Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) for the three-month periods ended March 31, 2016 and 2015, which are available at www.sedar.com.

Debenture Conversion and Grant of Stock Options

On May 3, 2016, the Company issued 206,240 shares at a price of $0.05 per share for a total consideration of $10,312 as a result of the exercise of the conversion feature of a debenture holder, bringing the total amount outstanding of that convertible debenture from $538,600 to $528,288. On May 26, 2016, the Company issued 150,000 options to purchase common shares of the Company at a price of $0.05 per share as part of the compensation package to a consultant hired by the Company to assist the Company in setting up and managing the financial reporting of its upcoming Chinese operations.

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

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

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: 440513

Go Top