Peak Provides Corporate Update

MONTREAL, QC / ACCESSWIRE / March 2, 2016 / Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) (“Peak” or the “Company”) today provided the following updates on its outstanding maturing convertible debentures, the balance of the total CAD$4M the Company is expecting to receive from Shanghai based businessman Mr. Jiang Wang to formalize their strategic partnership, and the launch of the Company’s new website.

Convertible Debenture Term Extension Agreement

On February 24, the Company reached an agreement to extend the term of $538,600’s worth of convertible debentures with a 10% annual interest rate, convertible into Peak common shares at any time prior to maturity at a price of $0.10 per share, that were set to mature on February 28, 2016 (the “Agreement”). Under the terms of the Agreement, the debentures kept the same annual interest rate of 10% and now carry a conversion price that allow for the principal amount to be converted into Peak common shares at any time prior to maturity at the price of $0.05 per share. $230,500’s worth of the debentures will mature on March 31, 2016, while the remaining $308,100 will mature on February 28, 2017.

Pursuant to Multilateral Instrument 61-101 Respecting protection of minority security holders in special transactions (“MI 61-101”), the Agreement constitutes a “related party transaction” as certain directors and officers of Peak (the “Related Parties”) subscribed to the debentures. In reviewing the applicable valuation requirements under MI 61-101, Peak has determined that the exemption set out in subsection 5.5 (a) of MI 61-101 is applicable since the aggregate consideration to be paid by the Related Parties does not exceed 25% of the market capitalization of Peak at the date hereof. In addition, subsection 5.7(a) provides that a transaction meeting such criteria is also exempt from the minority shareholder approval requirement.

Transfer of CAD$4M to Formalize Chinese Partnership

On February 29, the Company received confirmation from Mr. Wang that the required paperwork for the new transfer request had been completed and that he had been advised by the bank that the transfer process would be completed very shortly. “Understandably, we’ve received many inquiries from investors who are concerned with how long it’s taking to close this transaction,” commented Johnson Joseph, President and CEO of Peak. “The funds transfer process was far more involved than any of us could have imagined, but the important thing is that our Chinese partners have kept us informed as to how the process was progressing every step of the way. We won’t provide a specific date for when we expect the funds to be in our bank account here in Canada, but we can now reassure shareholders that we received confirmation from our partners that everything that needed to be done to complete the transfers has now been done,” Mr. Joseph went on to say.

Launch of New Peak Website

The launch of the Company’s new website, which was planned for mid-February, has now been postponed until after the formal closing of the Company strategic partnership transaction with Mr. Wang and the Zhonghai Wanyue Group. The new website is expected to emphasise Peak’s relationship with Mr. Wang and Zhonghai Wanyue, as well as provide the Company’s stakeholders with more up to date information on Peak’s strategic plans going forward.

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: 437417