Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that the expiry date of the 199M common share purchase warrants originally issued on June 1, 2016 has been extended from the original expiry date of June 1, 2018, to a new maturity date of December 15, 2019 to be in line with the debenture private placement financing closed by the Company on December 15, 2017.
The 199M warrants in question were originally issued as part of a transaction between the Company and shareholders of Zhonghai Wanyue back in June 2016. 191M of those warrants were transferred to debenture subscribers in the course of the Company’s recently closed debenture private placement financing. Other than the change of their maturity date, the warrants retained all of their original attributes. Warrant holders can use the amount invested in the debenture private placement financing to purchase common shares of the Company at a price of $0.05 per share at any time prior to the maturity date of the debentures or the expiry date of the warrants, which now have the same December 15, 2019 date.
The following tables summarize the company’s common share and warrant positions both prior to and after the debenture private placement financing:
| Prior to Debenture Private Placement Financing | ||||
| Type of Security | Number Outstanding | Strike Price | Issue Date | Expiry Date |
| Common Shares | 473,209,055 | N/A | N/A | N/A |
| Warrants | 199,000,000 | $0.05 | June 1, 2016 | June 1, 2018 |
| Warrants | 1,640,359 | $0.20 | March 31, 2017 | March 31, 2019 |
| Warrants | 14,000,000 | $0.12 | June 14, 2017 | June 14, 2022 |
| Total Securities | 687,849,414 | |||
| After Debenture Private Placement Financing | ||||
| Type of Security | Number Outstanding | Strike Price | Issue Date | Expiry Date |
| Common Shares | 473,209,055 | N/A | N/A | N/A |
| Warrants | 199,000,000 | $0.05 | June 1, 2016 | December 15, 2019 |
| Warrants (New) | 49,000,000 | $0.05 | December 15, 2017 | December 15, 2019 |
| Warrants | 1,640,359 | $0.20 | March 31, 2017 | March 31, 2019 |
| Warrants | 14,000,000 | $0.12 | June 14, 2017 | June 14, 2022 |
| Total Securities | 736,849,414 | |||
The Company acknowledges that the additional 49M warrants issued as part of the debenture private placement financing could potentially increase the number of its outstanding common shares. However, the Company estimates that the benefits of the additional capital brought by those warrants today far outweigh the negligible impact those would-be shares could potentially have on future earnings per share.
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 high-growth-potential companies and assets in some of the fastest growing tech sectors in China, including Fintech, e-commerce and cloud-computing. Peak provides its shareholders with exceptional growth potential by giving them access to the fastest growing sectors of the world’s fastest growing economy. For more information: http://www.peakpositioning.com
Contact information:
Cathy Hume
CEO
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
Email: [email protected]
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: [email protected]
