Peak Announces CAD$1 Million Secured Convertible Debenture Offering
10 Février 2014 - 7:28PM
Marketwired
Peak Announces CAD$1 Million Secured Convertible Debenture Offering
MONTREAL, QUEBEC--(Marketwired - Feb 10, 2014) - 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.
Jeanny SoDirector of OperationsCHF Investor RelationsPhone:
416-868-1079 ext.: 225Email: jeanny@chfir.comJohnson
JosephPresident and CEOPeak Positioning Technologies Inc.Phone:
514-340-7775 ext.: 501Email: investors@peakpositioning.com
Peak Positioning Technologies (TSXV:PKK)
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