ICBC Becomes 2nd Bank to Use Peak Subsidiary ASDS
Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that the Industrial and Commercial Bank of China (https://www.icbc.com.cn/icbc/) ("ICBC") has joined a financing program from automobile dealer Xian Fenghui Automobile Service Company ("FASC") where credit analysis reports produced by the Company's Asia Synergy Data Solutions ("ASDS") subsidiary are used to qualify FASC clients for financing.
FASC is one of the largest automobile dealers in the province of Shaanxi, where Xian is the capital city. The financing program was put in place earlier this year after the credit reports were used successfully by a FASC financial partner to qualify some of its clients for credit. ICBC becomes the second bank in less than a month to join the program following Hua Xia Bank (https://www.hxb.com.cn/en/).
Updated Website
The Company also announced that it has updated its website to better reflect the evolution of its operations in China. The website is available at https://www.peakpositioning.com.
Re-Pricing of Warrants and Client Acquisition
On September 24, 2019, Peak re-priced a total of 2.9M share purchase warrants with an expiry date of May 7, 2020. The warrants had an original exercise price of $0.10 and are now re-priced to $0.05. The expiry date of the warrants remains the same. If the warrants are exercised, Peak would use part of the proceed