Montreal, Quebec--(Newsfile Corp. - August 30, 2018) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that its Asia Synergy Data Solutions ("ASDS") subsidiary, which manages the Cubeler commercial lending platform, has completed the initial support and training phase to get Wuxi Jinxin Internet Small Loans Ltd. ("WJISL") to begin providing loans on the platform. WJISL is one of the first financial institutions to join Cubeler and recently announced an agreement with Wuxi TanCheng Internet of Things Ltd. ("TanCheng") to use Cubeler to provide loans and various credit-related services to TanCheng's more than 60,000 transportation small business clients. Today's announcement paves the way for the contemplated transactions between WJISL and TanCheng's clients to take place.
The Company also announced that its financial services subsidiary, Asia Synergy Financial Capital ("ASFC"), extended a total of 194 loans worth a combined $4.95M during the month of July. Considering that ASFC had exhausted the maximum loanable funds of $20M at its disposal by the end of June 2018, the loan numbers for July demonstrate ASFC's ability to quickly and efficiently extend new loans to SMEs by simply using the proceeds of the repayment of loans extended in previous months.
Launch of ASFC Celebration Event
As mentioned in a news release earlier this month, the Company will host an event in Montreal to mark and celebrate the launch of its ASFC subsidiary, where the guests of honor will be Mr. Kelong Chen, Executive Chairman of Jiu Dong Limited ("Jiu Dong"), and Mr. Changsheng Zhuo, Jiu Dong's CEO. Mr. Chen and Mr. Zhuo played pivotal roles in the creation of ASFC and will be travelling to Montreal specifically for the occasion. The event will take place on Thursday October 11, 2018 from 11:30am to 2:30pm at The Mount Royal Club in downtown Montreal. A three-course lunch will be served followed by a series of short announcements and presentations where members of the Company's management team and its guests of honor will address the audience.
Attendance to the event is open to the Company's shareholders on record as of July 31, 2018. Shareholders residing outside of Montreal who would like to attend the event may enter their names for a draw to win hotel accommodations for two people and a pair of tickets to fly to Montreal for the occasion (the "Draw"). To do so, eligible shareholders can simply send an email with their name, address and phone number to investors@peakpositioning.com with "ASFC Event Draw" as the subject line (see additional terms and eligibility conditions for the Draw below).
All shareholders on record as of July 31, 2018 wishing to take part in the celebrations, whether or not they enter the Draw, have until 6:00pm Montreal time on Friday September 28, 2018 to register for the event by going to https://peakpositioning.eventbrite.ca and following the registration instructions. Space will be limited to 75 attendees and registrations will be treated on a first come first served basis. Eligible shareholders who register for the event are also invited to visit The Mount Royal Club's website at https://www.themountroyalclub.com for more details on the club's menu and dress code.
Terms and Eligibility Conditions for Draw of Hotel and Flight Accommodations
The Draw is open to Canadian residents who were shareholders of the Company as of July 31, 2018. To be eligible for the Draw, emails from participants must be received no later than 5:00pm Montreal time on September 10, 2018. The Draw will be held at the Company offices in Montreal on Thursday September 13, 2018. The winner of the Draw will be notified by email on Friday September 14, 2018. No one with a past or present business relationship with the Company is eligible to take part in the Draw. That includes employees, consultants, clients, suppliers and anyone that has ever received a product or service from the Company or provided a product or service to the Company.
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: https://www.peakpositioning.com