Peak Subsidiary ASCS Records First Transactions Related to $1B Bank Loan Servicing Agreement

MONTREAL, QUEBEC – (NEWSFILE – March 7, 2019) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that its Asia Synergy Credit Solutions (“ASCS”) subsidiary has officially begun servicing loans on behalf of Wuxi Rural Commercial Bank (“WRCB”) (http://www.wrcb.com.cn/), related to a CAD$1B bank loan servicing agreement signed earlier this year with Wuxi Union SME Guarantee Co. Ltd. (“Wuxi Union”) (http://www.lhdb.com.cn/).

 

Using the Lending Hub System (see video here) powered by the Cubeler commercial lending platform to find and qualify the loan candidates, ASCS began its relationship with WRCB by processing and now servicing 5 bank loans approximately worth a combined CAD$700,000 (3.5 million RMB) on behalf of WRCB.

 

“We couldn’t be happier with the start of our relationship with ASCS,” commented Mr. Yuze Zhao, local WRCB Branch Manager. “We are convinced that the Lending Hub System is the future of commercial lending and are very proud to be the first bank in China to use it to our advantage. It would have normally taken over a week to process each of the loans now being serviced by ASCS, but with Lending Hub, they were all processed in less than 72 hours,” concluded Mr. Zhao.

 

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
cathy@chfir.com investors@peakpositioning.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.