Peak Subsidiary ASCS Adds Jinxin Internet Small Loans Ltd. to Growing List of Clients
Montreal, Quebec--(Newsfile Corp. - March 29, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that Wuxi Jinxin Internet Small Loans Ltd. ("WJISL) will soon be added to its Asia Synergy Credit Solutions ("ASCS") subsidiary's expanding list of loan outsourcing service clients.
WJISL currently uses the Cubeler Lending Hub commercial lending platform, managed by Peak's Asia Synergy Data Solutions ("ASDS") subsidiary, to lend primarily to small businesses in the transportation and distribution industry. Under a special agreement as an early adopter of Cubeler Lending Hub between WJISL and ASDS, WJISL pays ASDS an annual service fee of 0.5% on the aggregate value of the loans it makes through the platform. WJISL began using Cubeler Lending Hub as a loan facilitating platform in September 2018 and most recently used the platform to close 5 new loans worth a combined 1.1M RMB (approximately CAD$ 219,000).
WJISL will now outsource part of its commercial lending activities to ASCS. Further details regarding the agreement between ASCS and WJISL, including the total annual funds to be allocated for loan servicing by WJISL to ASCS and the service fees payable by WJISL to ASCS, will be provided in the coming days.
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
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Forward-Looking Statements / Information:
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