MONTREAL, QUEBEC — (Marketwired) — 09/04/13 — Peak Positioning Technologies Inc. (“Peak” or the “Company”) (TSX VENTURE: PKK) today announced the launch of the beta version of its AiNi Mobile Cloud Platform on popular Chinese app store HiAPK ().
After months of development efforts, and much anticipation from various Company stakeholders, AiNi, albeit in its beta version, is now available to Chinese consumers as a free download. This beta version of the platform is released with limited functionality. Basic features, such as data synchronization and the “Circle” social media application that allows users to create social communication groups are available. Other features, such as instant messaging app aggregation will be available in the full release. The purpose of the beta release is to obtain user feedback on AiNi-s existing and potential future features in order to fine-tune the platform before it is officially launched pre-installed on smart devices distributed by mobile network operators. The beta period is expected to run through late October or early November.
Closing of CAD$100K Private Placement
Peak also announced today that it has closed a CAD$100,000 non-brokered private placement consisting in the issuance of 2,000,000 units at $0.05 per unit. Each “Unit” consists of one (1) common share and one (1) 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 24 month period following the closing date. The securities issued pursuant to the private placement are subject to a hold period expiring four (4) months and one day from the date of closing. Peak intends to use the proceeds of the private placement for working capital purposes and to help cover some of the expenses related to its proposed acquisition of LongKey Hong Kong Limited.
No commission or finder-s fees were paid in connection with the private placement.
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:
Forward-Looking Statements / Information
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
The TSX Venture Exchange has in no way passed upon the merits of this transaction and 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.
Contacts:
Jeanny So
Director of Operations
CHF Investor Relations
416-868-1079 ext.: 225
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
514-340-7775 ext.: 501
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