(MENAFN - Newsfile Corp) Peak Subsidiary AST Signs Agreement to Facilitate Vehicle Financing Transactions
Montreal, Quebec--(Newsfile Corp. - April 11, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that its Asia Synergy Technologies ("AST") subsidiary has signed an agreement with Xi'an Fenghui Automobile Service Company ("FASC") to use AST's Gold River product procurement platform to facilitate vehicle purchase and financing transactions.
FASC is a well-established automobile dealer in Xi'an, the capital of Shaanxi Province, providing automobile purchase and financing services in Western China with no online presence. The agreement with AST will provide FASC with a mobile application and web-based platform that will allow it to expand its services beyond the capabilities of its brick and mortar facilities. All requests for financing from FASC clients made through Gold River will be referred to the Cubeler Lending Hub platform, managed by Peak's Asia Synergy Data Solutions ("ASDS") subsidiary, where various lenders will have an opportunity to service the requests.
AST will earn a service fee of 0.1% to 1% on all transactions facilitated through Gold River for which no financing is required, and an additional referral service fee of 1% to 2% of the value of the transaction on all approved financing transactions. ASDS for its part will earn its customary Cubeler Lending Hub service fee from the lenders who service the financing requests.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China's industrial sectors through the latest advancements in technology. For more information: http://www.peakpositioning.com
For more information, please contact:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 231
Peak Positioning Technologies Inc.
Johnson Joseph, President and CEO
514-340-7775 ext.: 501
LinkedIn: Peak Positioning
YouTube: Peak Positioning
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.
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