MONTREAL, QUEBEC--(Marketwired - Oct 25, 2013) - Peak Positioning Technologies Inc. ("Peak" or the "Company") (TSX VENTURE:PKK) today announced that it will issue 432,039 common shares to MSU Securities Law Professional Corporation ("MSU") at a deemed price of $0.05 per share as compensation for due diligence services rendered in connection with the recently-announced signing of a $3 million debt financing term sheet between Peak and a Toronto-based investment firm. Peak deals at arm's length with MSU.
If and when the transaction between Peak and the investment firm closes, Peak will use part of the proceeds of the $3 million debt financing to further advance the ongoing process of its intended acquisition of LongKey Hong Kong ("LongKey"). Peak and LongKey have been working towards completing the contemplated acquisition since it was first announced back in April 2013. Peak is hopeful that the closing of the $3 million debt financing transaction will allow it to complete the acquisition of LongKey in the shortest possible delay.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for mobile smart devices, and application provider to mobile network operators (MNO) worldwide. In association with its partner, LongKey-Hong Kong Ltd, the company has developed the AiNi™ Mobile Cloud platform. AiNi™ is an enhanced version of the mobile smart device O/S equally designed for the benefit of consumers and MNOs, and marketed to MNOs as a solution to increase and maintain their mobile subscriber bases. AiNi™ comes with a suite of standard applications and features and offers MNOs the possibility to have additional custom applications and features developed and integrated to the platform. For more information: http://www.peakpositioning.com
About MSU Securities Law Professional Corporation:
MSU is a Toronto-based law firm specializing in corporate and securities law with a focus on small and mid cap companies. For more information: firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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