Vancouver, British Columbia--(Newsfile Corp. - October 27, 2015) - Peak Positioning Technologies (CSE: PKK) (OTC Pink: PKKFF) is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol "PKK". The company previously traded on the TSX Venture Exchange. Peak Positioning, a Canadian software developer, is assembling a portfolio of high-growth projects and companies in e-Commerce, cloud-computing and financial technologies in North America and China.
InvestmentPitch.com has produced a "video news alert" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Peak" in the search box.
The company is currently in the process of acquiring LongKey, Hong Kong Limited. LongKey provides B2B Software as a Service solutions to Chinese businesses in partnership with China Telecom, China's largest telecom service provider. It also provides Internet-based financial services to facilitate small business loans in partnership with the Industrial and Commercial Bank of China, China's largest bank.
The acquisition agreement between Peak and LongKey is primarily a share exchange agreement whereby Peak will issue a number of Peak common shares to LongKey's shareholders in exchange for their LongKey shares. In addition to the share exchange, Peak will also contribute an amount, to be determined, to LongKey's working capital.
Johnson Joseph, President & CEO, stated: "Considering the value that Peak is getting with the acquisition of LongKey, it's only fitting that LongKey's shareholders be adequately compensated with the number of Peak shares that they would be receiving in exchange of their LongKey shares. Now that Peak will be trading on the CSE, we'll have the flexibility to issue a number of shares to LongKey's shareholders to be able to immediately acquire 100% of the company."
Peak also plans to use its well established partnerships with some of China's largest telecom service providers and banks to introduce new and innovative applications from various Canadian developers to the Chinese mobile marketplace, and as such develop a reputation as the gateway to China for Canadian software developers and IT solution providers.
The company plans to close a series of private placement financings to help close its acquisition of LongKey, the terms of which will be disclosed in the coming days. The company's shares are trading at $0.02, and with 141 million shares outstanding, the company is capitalized at $2.8 million.
For more information, please visit the company's website www.peakpositioning.com, contact Johnson Joseph, President & CEO, at 514-340-7775 ext 501 or emailinvestors@peakpositioning.com.
Investor relations is handled by Cathy Hume, CEO of CHF Investor Relations, who can be reached at 416-868-1079 ext 231, or email cathy@chfir.com.
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