MONTREAL, QUEBEC – (NEWSFILE – January 31, 2018) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that it has created a new Chinese holding subsidiary in the city of Wuxi. The new holding subsidiary (“Wuxi Holdco”) was created ahead of the official registration of Asia Synergy Financial Capital (“ASFC”) for the purposes of being the parent company of ASFC and the vehicle through which Peak will hold a 51% stake in ASFC.
Due in part to different regulations governing the ownership of financial services companies in China, particularly with regards to the flow of funds between the subsidiary and the parent, Peak could not use its existing Shanghai based holding subsidiary, Asia Synergy Holdings, as ASFC’s parent company. In addition to meeting the prescribed government regulations with regards to the ownership of ASFC, the creation of Wuxi Holdco will allow for a smooth repatriation of eventual ASFC profits from China to Peak’s Hong Kong based holding subsidiary Asia Synergy Limited, then to Peak in Canada, and ultimately to Peak shareholders in the form of dividends.
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:
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