MONTREAL, QC / ACCESSWIRE / March 29, 2017 / Peak Positioning Technologies Inc. (PKK.V) (OTC PINK: PKKFF) ("Peak" or the "Company") today announced that the Company has closed a private placement financing of $230K (the "Financing").
The Financing consisted in the sale of 1,533,333 units (a "Unit") at a price of $0.15 per Unit for gross proceeds of $230,000.00. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant entitling the warrant holder to purchase one (1) common share at a price of $0.20 for a twenty (24) month period. Peak paid a cash commission finder's fee, to eligible persons who helped place the Units, equal to 8% of the gross proceeds of the Units they helped place. Peak also granted finder's compensation options to the same eligible persons who helped place the Units entitling them to purchase a number of Peak common shares equal to 8% of the total number of Units they helped place, at the price of $0.20 per common share for a twenty-four (24) month period following the closing date.
The securities issued pursuant to the Financing are subject to a hold period expiring four (4) months and one day from the date of closing.
The Company will use the proceeds of the Financing to finalize a transaction in which it will acquire the rights to a fintech commercial lending platform and for working capital purposes.
Exercise of warrants
Peak also announced the following exercise of warrant transactions that resulted in total net proceeds of $243,328.75 for the Company:
On March 7, 2017, the Company issued 1,475,000 common shares at a price of $0.025 per share as a result of the exercise of common share purchase warrants for net proceeds of $36,875.
On March 16, 2017, the Company issued 450,000 common shares at a price of $0.025 per share as a result of the exercise of common share purchase warrants for net proceeds of $11,250.
On March 23, 2017, the Company issued 5,448,150 common shares and 380,000 common shares at a price of $0.025 and $0.05 per share respectively as a result of the exercise of common share purchase warrants for net proceeds of $155,203.75.
On March 28, 2017, the Company issued 1,000,000 common shares and 300,000 common shares at a price of $0.025 and $0.05 per share respectively as a result of the exercise of common share purchase warrants for net proceeds of $40,000.00.
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.
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.
Cathy Hume, CEO
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
Henry Wong, Account Executive
NAI Interactive Ltd.
Johnson Joseph, President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
SOURCE: Peak Positioning Technologies Inc.