Montreal, Quebec--(Newsfile Corp. - December 13, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that it has reached an agreement with holders of the secured debenture issued in December 2017 to extend the maturity date of the debenture by an additional 12 months. The debenture, which was issued for an original amount of $12M and had a remaining balance outstanding of $3.5M at the time of the extension agreement, will now mature on December 16, 2020 instead of December 16, 2019.
The warrants accompanying the debenture, which allow holders to surrender the debenture at any time prior to maturity to acquire common shares of the Company at a price of $0.05 per share and that are set to expire on December 16, 2019, will be replaced by new warrants with the same attributes, except that they will expire on December 16, 2020 to coincide with the new maturity date of the debenture. For each $0.05 warrant that is tied to the debenture, debenture holders will also receive an additional warrant that will allow them to acquire common shares of the Company at a price of $0.08 per share at any time for a period of 24 months from their date of issuance.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China's commercial lending industry. Peak's subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China's commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information:
Forward-Looking Statements / Information:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 231
Peak Positioning Technologies Inc.
Johnson Joseph, President and CEO
514-340-7775 ext.: 501
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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.
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