Yahoo Finance Peak Subsidiary's Financial Partner Signs Agreement to Provide Loans to Over 60,000 Transportation SMEs on Cubeler Platform
Montreal, Quebec--(Newsfile Corp. - August 22, 2018) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that Wuxi Jinxin Internet Small Loans Ltd. ("WJISL), one of the first financial institutions to join the Company's Cubeler commercial lending platform, managed by its Asia Synergy Data Solutions ("ASDS") subsidiary, has signed an agreement with Wuxi TanCheng Internet of Things Ltd. ("TanCheng") to use Cubeler to provide loans and related financial services to TanCheng's more than 60,000 transportation small business clients.
Independent truckers play a vital role in the transportation and distribution of goods within China. Many of these small business entrepreneurs simply lack the resources to own and operate their own management and logistics systems, which can be quite complex. This is where TanCheng (www.4008812356.com) comes in. Headquartered in Wuxi and with offices in Shanghai, Anhui, Jiangxi and Zhejiang, TanCheng operates a platform that provides management and logistics services to China's truck-based transportation industry. By virtue of the agreement between WJISL and TanCheng, WJISL will exclusively use the Cubeler platform to qualify TanCheng's clients for loans and credit, primarily in the form of accounts receivable financing, for which ASDS will charge a transaction fee representing a percentage of the amount of credit extended.
All parties involved in this agreement aim to have the first transactions take place by the end of September 2018.
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
Contact information:
Cathy Hume
CEO
CHF Capital Markets
Phone: 416-868-1079 ext.: 231
Email: cathy@chfir.com
Or
Johnson Joseph
President and CEO
Peak Positioning Technologies Inc.
Phone: 514-340-7775 ext.: 501
Email: investors@peakpositioning.com
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.
