SYS-CON MEDIA Authors: Jason Bloomberg, Eric Brown, Bob Gourley, Sandi Mappic, RealWire News Distribution

News Feed Item

Peak Announces CAD$1 Million Secured Convertible Debenture Offering

MONTREAL, QUEBEC -- (Marketwired) -- 02/10/14 -- Peak Positioning Technologies Inc. ("Peak" or the "Company") (TSX VENTURE: PKK) announces a non-brokered private placement offering of secured convertible debentures (the "Debentures") for a total amount of up to CAD$1 million (the "Offering"). The Debentures will pay an annual interest rate of 10%, will mature 24 months from the date of their issuance, will be secured by the aggregate assets of the Company, and will allow their subscribers to convert them into Common Shares of Peak at any time prior to maturity, subject to certain terms and conditions, at a price of CAD$0.05 per Common Share during the 12-month period immediately following their issuance and CAD$0.10 per Common Share thereafter until their maturity date.

Peak intends to use the proceeds of the Offering for general working capital purposes.

Certain insiders of the Company are expected to subscribe to the Offering. Peak is aiming to close the Offering in two tranches, with the first tranche to close on or about February 28, 2014 and the second tranche to close on or about March 14, 2014.

About Peak Positioning Technologies Inc.:

Peak Positioning Technologies Inc. (TSX VENTURE: PKK), is a Canadian software developer for mobile smart devices, and application provider to mobile network operators (MNO) worldwide. In association with its partner, LongKey-Hong Kong Ltd, the company has developed the AiNi™ Mobile Cloud platform. AiNi™ is an enhanced version of the mobile smart device O/S equally designed for the benefit of consumers and MNOs, and marketed to MNOs as a solution to increase and maintain their mobile subscriber bases. AiNi™ comes with a suite of standard applications and features and offers MNOs the possibility to have additional custom applications and features developed and integrated to the platform. For more information: http://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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.