Montreal, Quebec–(Newsfile Corp. – March 13, 2019) – Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that its Asia Synergy Credit Solutions (“ASCS”) subsidiary added commercial lender XinXin Micro Loan Company Ltd. (“XinXin”) to its growing list of loan servicing clients.
ASCS uses the Cubeler Lending Hub System to find and qualify loan candidates in addition to doing all of the administrative work related to the loans on behalf of its clients, thus providing end-to-end loan servicing solutions to banks and other commercial lenders.
Under the terms of the agreement between XinXin and ASCS, XinXin will allocate up to 100M RMB (approximately CAD$20M) in loans to be serviced by ASCS, of which 1.3M RMB (approximately CAD$260,000) has now been disbursed in two separate loan transactions currently serviced by ASCS.
The news comes less than a week after ASCS announced the first transactions related to a similar agreement to service up to CAD$1B in loans on behalf of the Wuxi Rural Commercial Bank. “We’re very pleased to add XinXin to our list of clients,” commented Mr. Jiangang Qiu, CEO of ASCS. “It’s a great feeling to have our clients recognize our value proposition and the benefits of the Lending Hub System. Every new client we sign up makes it easier to sign the next one, which in turn increases our influence on the commercial lending industry. We are all very excited about what we’re in the process of accomplishing through Peak’s group of companies,” concluded Mr. Qiu.
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
Twitter: @PeakPositioning
Facebook: @peakpositioning
LinkedIn: Peak Positioning
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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.
