Montreal, Quebec--(Newsfile Corp. - July 11, 2016) - Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Peak" or the "Company") today announced that its Chinese subsidiary, Asia Synergy Technologies Ltd. ("AST"), and Guangda International Construction Engineering Corporation ("GICE") have signed a purchase order agreement worth RMB2 billion (approximately CAD$385M) over an 18-month period.
GICE is the parent company of Guangda Industrial Company Ltd, with whom AST announced a similar agreement worth approximately CAD$190M on July 5, 2016. GICE is part of the Shenzhen Airport Civil Aviation Holdings Group. The company is an importer, exporter and distributor of various materials, including chemical and non-chemical based raw materials, ferrous and nonferrous metals, textile materials and other commodities, catering to China's aviation industry. The agreement between GICE and AST calls for GICE to purchase RMB2 billion worth of non-ferrous metals and chemical products from AST between July 2016 and December 2017 at a price to be agreed to by the parties based on prevailing market conditions at the time of the transactions. This agreement now brings the total purchase order commitments made to AST for the next 18 months to approximately CAD$575M.
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: https://www.peakpositioning.com