MONTREAL, QUEBEC — (Marketwired) — 05/28/13 — Peak Positioning Technologies Inc. (“Peak” or the “Company”) (TSX VENTURE: PKK) and CHF Investor Relations (CHF) today announced that they have opted to continue their existing IR relationship into a third, and potentially fourth year, under a new contract that expands on CHF-s services to include a US-based investor relations program.
As Peak-s US investor base continues to grow, and with the recently announced potential acquisition of LongKey Hong Kong and bridge financing agreement with US-based Newfield Partners LLC possibly contributing to that growth, the Company has decided now is the time to start an initiative to build US investor exposure. CHF will work with its New York-based office to undertake a US-based investor relations program.
Subject to TSX Venture Exchange approval, the contract for investor relations and market-making services is for a term of twelve months and may be extended by up to one year. CHF will receive $7,500 per month in fees and reimbursement of expenses. Peak has granted CHF 250,000 stock options to purchase Peak shares at an exercise price of $0.10 per share pursuant to the Company-s stock option plan.
The market-making activity will be conducted using a registered broker in compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual (the “Manual”), IIROC-s Universal Market Integrity Rules & Policies (2010) and other relevant policies, so that trading orders in Peak-s shares are made to manage share price volatility and imbalances of orders in order to improve trading liquidity on the exchange. In accordance with Policy 3.4, section 2.8 of the Manual that states in part “an Issuer may not use its own funds, or provide direct or indirect compensation to other parties to undertake a market-making function in its securities,” the Company and CHF confirm that capital for the purposes of market-making has not and will not be provided from the Company-s treasury.
Prior to the grant of stock options as stated herein, CHF is holder of 550,000 PKK options at an exercise price of $0.14 expiring on April 12, 2016; and 200,000 PKK options at an exercise price of $0.15 expiring on September 1, 2017.
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 e-mail, calendar and contacts synchronization, automated device configuration, and HomeWavea 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.
About CHF Investor Relations
CHF-s effective role is acting as the public company-s outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX/TSX Venture and CNSX listed companies that operate in a broad range of industries including niche products and business solutions, mining exploration and producers, oil & gas, industrial products and services, biotech and high-tech. The depth of capital market experience at CHF is formidable dating back to the late 1970-s.
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 news release.
Contacts:
CHF Investor Relations
Jeremy Hill
Account Manager
416-868-1079 ext. 238
Peak Positioning Technologies Inc.
Johnson Joseph
President and CEO
514-340-7775 ext. 501
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