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Peak Signs US$6 Million Financing Deal and Unveils Expansion Plans for Chinese Market

MONTREAL, QUEBEC -- (Marketwire) -- 12/21/12 -- Peak Positioning Technologies Inc. ("Peak") (TSX VENTURE:PKK) today announced that it has signed an agreement with Hong Kong-based Essence International Capital ("Essence") that would see Essence raise and/or invest a total of US$6 million in Peak, allowing Peak to solidify its current position in China and better exploit new opportunities in the rapidly growing Chinese mobile market.

Today's announcement follows nearly two years of close collaboration in China between Peak and its Chinese partner LongKey Hong Kong ("LongKey") during which their respective interests became more and more intertwined. The recent signing of an agreement with China Unicom covering the distribution of the AiNi(TM) mobile cloud platform on China Unicom 3G smart devices meant that additional financial resources would be needed to allow Peak and LongKey to keep pace with the rapid growth of more than 3 million new 3G smart devices per month added on China Unicom's network. China Unicom has an install base of over 230 million mobile customers and the distribution agreement opens the door for Peak and LongKey to enter that market. While the future revenue potential is promising, this financing agreement with Essence was needed in order to meet the needs of such a large customer as China Unicom.

"The deal with China Unicom is a game changer for both Peak and LongKey," said Johnson Joseph, President and CEO of Peak. "As the launch of AiNi(TM) on Unicom's network gets under way, we need to be in a position to grow and expand our Chinese operations quickly. By providing for the necessary financing through the agreement with Essence, we'll be in a position to open offices in select cities to better support the anticipated deployment of AiNi(TM)," Mr. Joseph stated.

US$6 Million Financing Agreement

Peak has signed an agreement with Hong Kong-based Essence that would see Essence raise and/or invest a total of US$6 million in Peak in two phases based on certain conditions agreed to by the parties. Under the terms of the agreement, the first phase of the financing calls for Essence to raise and/or directly invest US$1 million in Peak immediately following a satisfactory due diligence process through the selling of 12,500,000 Common Shares of Peak at a price of US$0.08 per Share. The remaining US$5 million to be raised and/or invested would be tied to certain conditions to be agreed to by Peak and Essence, and be priced according to prevailing market conditions at that time. Essence will receive a 5% cash commission fee on all funds raised and invested. The proceeds of the financing will be used for general working capital purposes and to help Peak expand its operations in China.

"We are very excited by the signing of this agreement with Peak," said Robert Di, Investment Director at Essence. "We have great expectations on the prospect of the Chinese mobile communications market. We would like to leverage our resources to help Peak expand its operations in China and by the same token bring value and significant growth potential to our shareholders," Mr. Di went on to say.

"We've been looking for a financial partner with first-hand knowledge of the mobile space in China who would be able to really understand our business model and share our vision for how to be positioned to take advantage of the opportunities in the space", said Johnson Joseph, President and CEO of Peak. "To that end, we could not have found a better partner than Essence. In addition to financial capital, Essence brings a unique combination of intimate industry knowledge, retail desk distribution, and Asian capital markets expertise that would have been very difficult for us to find in Canada," concluded Mr. Joseph.

About Essence International Capital:

Essence International Capital is a wholly-owned subsidiary of Essence Securities, which is a full-range financial services company headquartered in Shenzhen, China with 122 branches providing services to nearly 2 million investors. Services include securities brokerage, investment consulting, financial advisory services related to securities trade and investments, securities underwriting and sponsorship, IPOs, financial advisory for mergers & acquisitions, and others. Essence's investment banking department, with offices in Shenzhen, Shanghai and Beijing, provide capital financing services to business clients in various industries, including real estate and infrastructure, finance, technology, retail trade, and others. For more information: http://www.essence.com.cn.

About Peak Positioning Technologies Inc.:

Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for smartphones and other mobile computing devices, conducting business primarily in China and North America. In association with its partner, LongKey-Hong Kong Ltd, the company has developed a suite of applications for mobile devices that includes: cloud-based calendar, e-mail and contacts synchronization, automated device configuration, and HomeWave(TM) mobility security. While LongKey markets the applications in China through its partnerships with major Chinese telecommunication companies and banks, Peak plans to similarly market the applications for its own account in North America. For more information: http://www.peakpositioning.com.

About LongKey-Hong Kong Ltd.:

LongKey Hong Kong Ltd., through its subsidiary LongKey Software Technology Ltd., provides a wide range of IT solutions, and cloud-based business management and mobile applications based on its proprietary Unified Information Services Platform (UISP). LongKey's applications are distributed to end-users in China by some of China's largest telecom and banking entities. For more information: http://www.longkeysoft.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. Without limiting the generality of the foregoing, the completion of the second tranche of the financing may not occur as it depends namely upon general market conditions, market conditions specific to Peak's industry, and the ability of the parties to agree on the pricing, the milestones to be attained by Peak, the use of proceeds and other contractual and financial terms of the financing. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
CHF Investor Relations
Jeremy Hill
Associate Account Manager
416-868-1079 x238
jeremy@chfir.com

Peak Positioning Technologies Inc.
Johnson Joseph
President and CEO
514-340-7775 ext.: 501
investors@peakpositioning.com
www.peakpositioning.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

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