|By Marketwired .||
|July 3, 2014 03:39 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 07/03/14 -- Peak Positioning Technologies Inc. (TSX VENTURE: PKK) (PINK SHEETS: PKKFF) ("Peak" or the "Company") today announced that it has signed a letter of engagement with Industrial Alliance Securities Inc. ("IAS") to have IAS act as lead agent, on a best efforts basis, for a private placement financing of a minimum of CAD$500,000 up to a maximum of CAD$1,000,000 (the "Offering").
The Offering will consist of the issuance of up to 20,000,000 units (a "Unit") at the price of CAD$ 0.05 per Unit. Each Unit consists of one (1) common share and one (1) one common share purchase warrant. Each common share purchase warrant entitles its holder to purchase one common share of Peak, at the price of $0.10, for a twelve (12) month period following the closing date. Peak will pay IAS a cash commission fee equal to 10% of the gross proceeds of the Units sold under the Offering. Peak will also grant IAS compensation options entitling IAS to purchase a number of Peak common shares equal to 10% of the total number of Units sold under the Offering, exercisable at the price of CAD$ 0.05 per common share for an 18 month period following the closing date.
The proceeds of the Offering will be used to help fund the Company's planned acquisitions and for working capital purposes. The Offering is scheduled to close on or about July 31st, 2014 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four month and one day hold period from the date of closing of the Offering.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. ("Peak"), (TSX VENTURE: PKK) (PINK SHEETS: PKKFF), is a management company whose wholly-owned subsidiary, Peak Positioning Corporation provides Web development services and develops mobile software platforms destined to mobile network operators worldwide. Peak aims to deliver value to its shareholders by assembling a portfolio of high-growth projects and companies in mobile, mobile e-Commerce, and Web development in North America and China. For more information: http://www.peakpositioning.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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.
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