Peak Positioning Technologies Inc. (CSE: PKK) (“Peak” or the “Company”) today announced that its Chinese operating subsidiary Asia Synergy Data Solutions (“ASDS”), which manages the Company’s Cubeler commercial lending platform, officially welcomed Wuxi Jinxin Internet Small Loans Ltd. (“WJISL) to the platform.
ASDS and WJISL had previously entered into an agreement in August 2017, whereby ASDS was able to temporarily leverage WJISL’s lending license to launch pilot versions of a series of credit products until the Company’s Asia Synergy Financial Capital (“ASFC”) subsidiary would be able to assume the role of being the facilitator of those credit products. So as expected, with the arrival of ASFC, the August 2017 agreement between ASDS and WJISL was replaced with a new agreement between the parties that will now see WJISL act as a lender that extends credit to qualified SMEs on Cubeler alongside ASFC. The arrival of WJISL on Cubeler gives access to 500M RMB (approximately $100M CAD) in additional funds that can be loaned on the platform and marks the beginning of ASDS’ strategy to bring as many lenders as possible to the platform in order to increase its overall lending capacity, and therefore ASDS’ revenue generating potential.
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
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
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