Financial CapitalPress Release

Peak Receives Government Approval of ASFC Shareholders and Announces Change to its Board of Directors

By 12 April 2018December 15th, 2020No Comments

MONTREAL, QUEBEC – (NEWSFILE – April 12, 2018) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that the Company and its Chinese partners have now received approval of all of the proposed shareholders of Asia Synergy Financial Capital (“ASFC”) from the Wuxi Municipal Financial Affairs Office (“WMFAO”). This sets the stage for the filing of ASFC’s registration documents, which the Company and its partners are expected to file later on this month once they receive the official certificate from the WMFAO stating that they have met all of the criteria to register ASFC as a licensed Chinese financial services company.

At the request of the WMFAO, which is mandated to regulate the operations of financial services companies in the city of Wuxi, the Company and its partners had to replace one of the proposed minority shareholders of ASFC on the initial application submitted to the WMFAO. As all of the proposed shareholders of ASFC have now been approved by the WMFAO, and they collectively meet the minimum financial requirements to launch ASFC’s operations, which will be evidenced with the transfer of a total of 100M RMB to a designated WMFAO trust account, Peak deems the issuance of the certificate to allow for the official registration of ASFC by the WMFAO to now be imminent.

Changes to Peak’s Board of Directors

Peak also announced that the Company and Mr. Jiang Wang have mutually agreed that it would be in the best interest of the Company to appoint a new member to its board of directors with intimate knowledge of the Chinese small business lending space. Coupled with the impending arrival of ASFC, the move would be in line with the Company’s approach of putting more emphasis on providing financial services to small and medium-sized businesses through its fintech platforms. Mr. Wang has therefore resigned from the Company’s board so that a new member may be appointed. Early candidates to fill the vacant board position include senior executives from Jiu Dong Limited, the Company’s strategic partner in ASFC.

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 promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China’s industrial sectors through the latest advancements in technology. For more information:

Contact information:

Cathy Hume


CHF Capital Markets

Phone: 416-868-1079 ext.: 231



Johnson Joseph

President and CEO

Peak Positioning Technologies Inc.

Phone: 514-340-7775 ext.: 501


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.