Montreal, Quebec--(Newsfile Corp. - December 22, 2015) - Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Peak" or the "Company") today announced that it has received a $100,000 advance on the $4M investment to be made by the shareholders of Banlan Industrial Company Limited ("Banlan") in January 2016, which will result in Banlan owning 51% of Peak's issued and outstanding common shares.
The $100,000 advance will be used primarily by Peak to setup its subsidiaries in Hong Kong and mainland China, and further confirms Banlan's commitment to the strategic investment partnership signed with Peak back in November. "We've been working with Banlan and legal advisors in both Hong Kong and Shanghai since we got back from Shanghai a couple of weeks ago and have made good progress in establishing our subsidiaries in both Honk Kong and Wuxi", commented Johnson Joseph, President and CEO of Peak. "Having received the advance will allow us to keep the process on track and ensure that the subsidiaries are in place in early 2016 to coincide with the closing of the transaction with Banlan, which will allow for our operations in Wuxi to begin immediately thereafter", concluded Mr. Joseph.
Banlan Launches New English Website
Given the pending transaction with Peak and thus the requirement for visibility in North America, Banlan recently launched a new English website aimed at allowing the North American audience to better get to know the company. "We are very excited about our new partnership with Peak and are pleased to launch this new website to introduce ourselves to our new allies in North America", commented Jiatao Luo, Chairman of Banlan. "We will continue to update the website regularly to keep our clients, suppliers and partners up to date with our operations and achievements as we continue to strive to revolutionize the plastics industry in China", Mr. Luo went on to say. The Banlan website is located at http://www.banlancorp.com.
Banlan and LongKey Update Conference Call
Peak also today announced that the Company will hold a 30 minute conference call on Thursday January 7, 2016 at 1:00pm EST to provide an update and more details on its pending transactions with Banlan and LongKey Hong Kong Limited. The conference call will begin with a 15 minute presentation by Peak CEO, Johnson Joseph, followed by a 15 minute question and answer period. Investors who have specific questions they would like to see addressed during the call are invited to send their questions to: investors@peakpositioning.com. Questions will be accepted until Tuesday January 5, 2016. Those who would like to attend the conference call are invited to dial toll-free 1-855-453-6961 and enter the conference ID 2607368. The conference call will be recorded in its entirety and will be made available for replay at the same number until February 7, 2016.
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. For more information: http://www.peakpositioning.com
For more information:
Cathy Hume
CEO
CHF Investor Relations
Phone: 416-868-1079 ext.: 231
Email: cathy@chfir.com
Or
Carl Desjardins
Managing Partner
Paradox Public Relations Inc.
Phone: 514-341-0408
Email: carldesjardins@paradox-pr.ca
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com
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