MONTREAL, QUEBEC – (NEWSFILE – December 22, 2017) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that $6.35M of secured debentures issued as part of the $12M secured debenture private placement financing closed on December 15, 2017 (the “Financing”), were surrendered to the Company to exercise common share purchase warrants.
As a result of the surrender of the debentures and simultaneous exercise of warrants, the Company issued a total of 127M common shares at a price of $0.05 per share. This leaves the Company with a total of $5.65M in outstanding secured debentures from the original amount of $12M at the closing of the Financing.
The Company also announced that it granted a total of 5M stock options to certain officers and directors of the Company who were instrumental in securing the Financing and for having voluntarily transferred a total of 191M common share purchase warrants with a $0.05 strike price to investors who subscribed to units of the Financing. The stock options granted vest over a 2-year period and allow the holders to purchase common shares of the Company at a price of $0.08 per share over a 5-year period.
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
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.