Montreal, Quebec--(Newsfile Corp. - January 7, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that it has closed a non-secured convertible debenture private placement financing, the proceeds of which will be used for working capital purposes.
The Company placed a total of 51 units (a "Unit") for gross proceeds of $510,000. Each Unit sold is comprised of a $10,000 face value, 2-year maturity, 8% annual interest non-secured convertible debenture plus 10,000 common share purchase warrants exercisable into Peak common shares at $0.10 per share for a period of 24 months from the date of the issuance of the warrants. Investors may, at any time prior to the maturity date of the debentures, convert part or all of the amount invested in the debentures into common shares of the Company at a price of $0.05 per share. The debentures contain a "forced conversion" feature under which the debentures will automatically be surrendered and converted into common shares should the shares of Peak trade at $0.20 or more for 3 consecutive trading days.
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: .
Contact information:
Cathy Hume
CEO
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
Email:
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email:
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.
