Montreal, Quebec--(Newsfile Corp. - November 30, 2016) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company")
, today announced that its wholly owned subsidiary, Asia Synergy Technologies ("AST"), has reached CA$50M in revenue for 2016 after
less than four months of operations.
AST reached the milestone after processing approximately CA$25M worth of plastic-based raw materials and copper orders through
its Gold River platform during the months of October and November. Following a limited launch earlier this year, AST reports that
more clients are being registered on Gold River as they increasingly begin to recognize the platform's value-added capabilities,
particularly when it comes to the financial services features.
"The credit landscape for commercial clients in China is vastly different than that in North America," commented Peak CEO
Johnson Joseph after returning from a recent trip to Shanghai. "For a number of reasons, mostly related to the Chinese government's
imposed restrictions on the gathering of information on citizens, there are really no credit bureau reporting agencies such as
Equifax in China, and therefore no credit scoring system. That may eventually change, but for now, banks and financial institutions
have no reference point and are left to their own devices when it comes time to determining the credit worthiness of companies.
This makes credit extremely tough to come by in China and companies are willing to pay a considerable premium for it. This provides
AST with an incredible opportunity."
"Because qualifying for lines of credit and other forms of financing is so difficult in China, there are tens of thousands of
companies every month who are desperately looking for a solution to their short-term cash flow needs. Bringing a viable solution to
those companies is the unique opportunity that AST and Zhonghai Wanyue (Mr. Jiang Wang's company) are poised to capitalize on. The
materials trading transactions currently being done through Gold River are merely setting the table for the more lucrative
financial services to come," concluded Mr. Joseph.
In addition to being able to purchase raw materials, AST is marketing Gold River as a platform that gives companies access to
receivables and inventory factoring, purchase order financing and other forms of credit to help them manage their cash flow
problems. Judging by the almost 60 clients that have registered their companies on Gold River in October and November, this appears
to be a proposition that is appealing to those in China's industrial sectors.
About November 28, 2016 Warrants
Peak also provided the following summary regarding the Company's share purchase warrants with an expiry date of November 28,
2016. Of the total 25,000,000 warrants, 6,425,000 were exercised, including 1,750,000 on November 28, 2016, netting the Company a
total of $321,250. This means that 18,575,000 warrants expired without being exercised, reducing the Company's number of shares
outstanding on a fully-diluted basis by that same amount.
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 economy. For more information: http://www.peakpositioning.com
Contact information:
Cathy Hume
CEO
CHF Investor Relations
Phone: 416-868-1079 ext.: 231
Email: cathy@chfir.com
Or
Henry Wong
Account Executive
NAI Interactive Ltd.
Phone: 604-488-8878
Email: henry@nai500.com
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com
