Here is the first transaction MONTREAL, QUEBEC – (NEWSFILE – August 12, 2016) – Peak Positioning Technologies Inc. (CSE:
PKK) (PINK SHEETS: PKKFF) (“Peak” or the “Company”) today announced that its Chinese subsidiary,
Asia Synergy Technologies Ltd. (“AST”), has processed the first order related to its recently announced
purchase order agreements worth an approximate CAD$575M over an 18-month period.
The order in question came from Hangzhou Hanggu Trading Ltd. (“HHT”) as part of AST’s agreement
with Guangda Industrial Company Ltd. and was for 270 tons of electrolytic copper, for which HHT will pay
AST RMB10M (approximately CAD$1.96M). “And with that transaction, we’re officially in business!”
declared Liang Qiu, CEO of AST.
The announced transaction was conducted offline while AST waits to obtain its Internet Content Provider
(ICP) license to get its Gold River platform up and running to start processing transactions online.
“Needless to say we’d like to get to processing these orders online as soon as possible, but this
nonetheless marks a significant step in the right direction for our group”, commented Johnson Joseph,
President and CEO of Peak. “We’re very proud of all of the work that was put in that led to this very
important milestone. Our team here in Montreal, the AST team in Shanghai, our legal counsels and other
professionals in Montreal, Hong Kong and Shanghai, as well as our partners at the Zhonghai Wanyue
Group all made significant contributions to the cause. It took a lot of coordination and cooperation from
everyone involved to get the corporate structure in place and meet all of the requireme