|By Marketwired .||
|January 25, 2013 05:11 PM EST||
MONTREAL, QUEBEC -- (Marketwire) -- 01/25/13 -- Peak Positioning Technologies Inc. ("Peak") (TSX VENTURE:PKK) today announced that it has closed a non-brokered private placement and has issued 2,814,295 units for gross proceeds of $157,600.52. Each unit ("Unit") consists of one (1) common share and one half (1/2) of one common share purchase warrant. Each common share purchase warrant entitles its holder to purchase one common share of Peak, at the price of $0.15, for a 12 month period following the closing date. The securities issued pursuant to the Offering are subject to a hold period expiring four (4) months and one day from the date of closing. Peak intends to use the proceeds for general working capital purposes.
A finder's fee consisting of a cash payment equal to 8% of the gross proceeds raised was paid to eligible persons in connection with the Offering.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. (TSX VENTURE:PKK) is a Canadian software developer for smartphones and other mobile computing devices, conducting business primarily in China and North America. In association with its partner, LongKey-Hong Kong Ltd, the company has developed a suite of applications for mobile devices that includes: cloud-based calendar, e-mail and contacts synchronization, automated device configuration, and HomeWave(TM) mobility security. While LongKey markets the applications in China through its partnerships with major Chinese telecommunication companies and banks, Peak plans to similarly market the applications for its own account in North America. For more information: www.peakpositioning.com.
Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this press release.