MONTREAL, QUEBEC – (NEWSFILE – September 21, 2018) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that Wuxi Jinxin Internet Small Loans Ltd. (“WJISL), one of the financial institutions registered on the Company’s Cubeler commercial lending platform, managed by its Asia Synergy Data Solutions (“ASDS”) subsidiary, recently conducted its first transactions on the platform.
WJISL extended loans to clients of Wuxi TanCheng Internet of Things Ltd. (“TanCheng”) related to an agreement between WJISL and TanCheng signed in August 2018. TanCheng (www.4008812356.com) provides management and logistics services to over 60,000 transportation small business clients in China. The partnership between WJISL and TanCheng calls for WJISL to use the Cubeler platform to help qualify and provide loans to those 60,000+ clients to help them manage and grow their businesses.
WJISL pays ASDS an annual service fee of 0.5% on the aggregate value of the loans extended to TanCheng clients on the platform. This service fee model is only applicable to WJISL for loans provided to TanCheng clients. Like any other lender registered on Cubeler, WJISL is also eligible to provide loans to SMEs on Cubeler that are not TanCheng clients, which means WJISL would benefit from Cubeler’s analytics-based match-making service and be matched with qualified SMEs. In this case a service fee representing between 1.5% to 3% or more of the value of the loans would be payable to ASDS by WJISL.
Announcement of ASFC Launch Celebration Event Draw
Peak is also pleased to announce that Mr. Jack Shabbits of Kelowna, BC was the winner of the draw for flight and hotel accommodations for two people to travel to Montreal to attend the Company’s ASFC Launch Celebration event taking place at the Mount Royal Club on Thursday, October 11, 2018.
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: http://www.peakpositioning.com
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
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.