MONTREAL, QUEBEC – (September 28, 2021) – Peak Fintech Group Inc. (CSE: PKK) (NASDAQ: TNT) (“Peak” or the “Company”), an innovative Fintech service provider and manager of the Cubeler Business Hub, today announced that it has voluntarily withdrawn its Form 40-F (registration statement) filed with the U.S. Securities and Exchange Commission (the “SEC”) while it works to comply with recent disclosure guidance provided by the SEC for companies either based in China or with the majority of their operations in China (the “Guidance”).
Without an effective Form 40-F filed with the SEC to register the Company’s common shares under Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), the Company’s common shares will no longer be listed on the Nasdaq Capital Market (the “NASDAQ”) as of immediately prior to market open on Thursday September 30, 2021.
Peak’s application to list on the NASDAQ was made under the Multi-jurisdictional Disclosure System (the “MJDS”), which was jointly adopted by the SEC and the Canadian Securities Administrators. The MJDS is intended to make it easier for companies on both sides of the border to list their respective securities on exchanges in both countries. The SEC notes that the MJDS allows eligible Canadian companies to register their securities and fulfill their periodic reporting requirements by use of documents prepared in accordance with Canadian requirements and reviewed by Canadian Securities Administrators. The Company has been cooperating with the SEC and plans to submit an amended Form 40-F that highlights the concerns referenced in the Guidance as soon as practicable.
Peak will keep the NASDAQ informed of its progress with the amended Form 40-F, which Peak hopes will lead to having a revised Form 40-F be declared effective by the SEC on an expedited basis so that the Company’s common shares will be listed on the NASDAQ as soon as possible.
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: https://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
MZ Group – MZ North America
Mark Schwalenberg, CFA
Peak Fintech Group
Barry Ellison, Director of Marketing and Communications
514-340-7775 ext.: 521
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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.
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