Montreal, Quebec--(Newsfile Corp. - January 22, 2016) - Peak Positioning Technologies Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Peak" or the "Company") today announced the extension of a $278,000 debenture with a 10% annual interest rate that was set to mature on January 1, 2016.
Under the terms of the extension, agreed to on December 31, 2015, the debenture kept the same annual interest rate of 10%, matures on January 1, 2017 and has a conversion feature that allows for the principal amount to be converted into Peak common shares at any time prior to maturity at the price of $0.05 per share.
Johnson Joseph, CEO of Peak commented, "Reaching this settlement to have the debenture extended was very important to us. It is a testament to how supportive our stakeholders have been".
In addition to extending the debenture, on January 8, 2016, the Company settled $38,200 of debt owed to creditors with the issuance of 764,000 Peak common shares at a deemed price of $0.05 per share. The common shares issued under the debt settlement agreement are subject to a hold period expiring four (4) months and one day from the date on which they were issued.
In an effort to better reflect the Company's recently announced partnership and provide its stakeholders with up-to-date news on future developments, Peak is in the process of revamping its website for planned completion by mid-February 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 access to the world's fastest growing economy by giving them the opportunity to participate in these high-growth sectors in partnership with some of the most reputable and high profile institutions. 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
copyright (c) newsfile corp. 2016