MONTREAL, QUEBEC – (NEWSFILE – May 8, 2019) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that it will file its consolidated financial results for the first quarter ended March 31, 2019 on May 23, 2019, which is the same day on which the Company will hold its Annual General Meeting (AGM) of shareholders.
The Company’s management would like the financial results to be made public prior to the AGM to give shareholders attending the AGM the opportunity to ask questions related to the published results.
Closing of Convertible Debenture Private Placement Financing
Peak also announced the closing of a private placement financing on April 26, 2019, consisting in the selling of 30.5 units at a price of $10,000 per unit for gross proceeds of $305,000. Each unit (a “Unit”) is comprised of $10,000, face value, of non-secured convertible debenture (the “Debentures”) and 200,000 warrants to purchase common shares of the Issuer at a price of $0.10 per share for a period of twenty four (24) months following the date of their issuance. The Debentures mature twenty four (24) months following the date of their issuance and bear interest at a rate of 8% per annum. The Debentures may be surrendered in whole or in part at any time prior to maturity to purchase common shares of the Company at the lower of $0.05 per common share or a price per common share that is equal to the prevailing market price of the common shares on the trading day prior to their conversion. The Debentures will automatically be converted to common shares at a price of $0.05 per share if at any time prior to their expiry, or voluntary conversion, the Company’s common shares trade at a price of $0.20 or more for three (3) consecutive trading days.
Details on Request for Vote on Possible Stock Consolidation
Peak will once again, at the Company’s AGM, ask shareholders to vote on authorizing the Company’s management to potentially proceed with a consolidation of the Company’s common shares. Peak would like to clarify that any consolidation of the Company’s common shares would only take place if and when certain conditions were met. Among those conditions would be that the Company’s pre-consolidation stock trade at an average price of $0.20 or greater for a period of at least 30 days.
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
|For more information, please contact:|
|CHF Capital Markets||Peak Positioning Technologies Inc.||Twitter: @PeakPositioning|
|Cathy Hume, CEO||Johnson Joseph, President and CEO||Facebook: @peakpositioning|
|416-868-1079 ext.: 231||514-340-7775 ext.: 501||LinkedIn: Peak Positioning|
|firstname.lastname@example.orgemail@example.com||YouTube: Peak Positioning|
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.