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Peak Fintech Group $PKK.ca $PKKFF Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communication Program $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 7:56 AM on Friday, March 26th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.
  • MZ Group will work closely with Peak management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community ahead of Peak’s anticipated listing on the Nasdaq Stock Market and thereafter.

Montreal, Quebec–(March 26, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.

MZ Group will work closely with Peak management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community ahead of Peak’s anticipated listing on the Nasdaq Stock Market and thereafter. The campaign will highlight how Peak is leveraging the Cubeler Lending Hub platform in China to automate the commercial lending process as well as how Peak plans to deploy the Lending Hub ecosystem concept in North America by the end of 2021. Powered by an analytics and artificial intelligence platform, the Cubeler Lending Hub is a nation-wide ecosystem that brings together lenders, borrowers and other participants in the commercial lending space to conduct lending and credit transactions rapidly, efficiently and with the utmost transparency.

MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. Mark Schwalenberg, CFA, Director at MZ North America, will advise Peak in all facets of corporate and financial communications, including the coordination of roadshows and investment conferences across key cities, as well as building brand awareness with financial and social media outlets.

Ted Haberfield, Chairman & President of MZ Group North America, commented: “Peak’s innovative ecosystem provides access to all data on small businesses that would be required by any lender to qualify the business for credit, including from their accounting software and bank statements. Leveraging artificial intelligence to analyze lending criteria allows Peak to match small businesses with multiple lending institutions, and therefore, increase the likelihood of funding while also minimizing risk for lenders by providing pre-qualified leads. The Company has seen wide adoption of its platform in China, and we look forward to sharing Peak’s solid position and aggressive expansion plan with our wide network of institutional investors and family offices.”

“2021 is an important inflection point for Peak, as we focus on executing our development roadmap over the coming year and prepare for an eventual Nasdaq listing,” said Johnson Joseph, President and CEO of Peak Fintech Group. “We look forward to working with Mark and the entire team at MZ Group to communicate with and introduce the Company to a whole new audience who may not yet be familiar with Peak as we continue to build long-term value for our shareholders,” concluded Johnson.

The agreement is for a term of twelve (12) months with a review after six (6) months. As compensation for the services provided, MZ Group will receive a monthly fee of US$10,000 and options to purchase 110,000 common shares of Peak. The options will have an exercise price of $2.75 CAD and will expire five (5) years from the date of their issuance.

For more information on Peak, please visit the Company’s investor relations website at http://peakfintechgroup.com/investors/. To schedule a conference call with management, please email your request to [email protected] or call Mark Schwalenberg at 312-261-6430.

About MZ Group

MZ North America (www.mzgroup.us) is the US division of MZ Group, a global leader in investor relations and corporate communications. MZ North America was founded in 1996 and provides full scale Investor Relations to both private and public companies across all industries. Supported by our exclusive one‐stop‐shop approach, MZ works with top management to support the clients’ business strategy in six integrated product and service categories: 1) IR Consulting & Outreach – full service investor relations and roadshow services; 2) ESG iQ & Advisory – reporting technology platform and audit and reporting guidance; 3) SPAC Alpha IR+ & IPO Advisory – providing critical and timely guidance through business combinations and IPOs; 4) Financial & Social Media – lead generation and social media relations; 5) Market Intelligence – real time ownership monitoring; 6) Technology Solutions – webhosting, webcasting, conference calls, distribution services and board portals. MZ North America has a global footprint with offices located in New York, Chicago, San Diego, Aliso Viejo, Austin, Minneapolis, Taipei and São Paulo.

About Peak Fintech Group Inc.

Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: www.peakfintechgroup.com.

AGORACOM Small Cap 60: Sheldon Inwentash of ThreeD Capital $IDK $IDKFF Thinks Peak Fintech $PKK.ca $PKKFF Could Be A Moonshot $UPST

Posted by AGORACOM-JC at 1:32 PM on Tuesday, March 23rd, 2021
IDK-square-for-blog

Peak $PKK.ca $PKKFF Announces Short Form Prospectus Public Offering $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 5:50 PM on Friday, March 12th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Obtained a receipt for a preliminary short form prospectus dated March 11, 2021 from the securities regulatory authority in the province of Quebec in connection with a marketed public offering of units of the Company
  • Aggregate gross proceeds of a minimum of $12,000,000 and a maximum of $15,000,000
  • Offering is being led by Mackie Research Capital Corporation as lead agent and sole bookrunner on a ‘commercially reasonable efforts’ basis.

Montreal, Quebec–(March 12, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company“), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that is has obtained a receipt for a preliminary short form prospectus dated March 11, 2021 (the “Prospectus“) from the securities regulatory authority in the province of Quebec in connection with a marketed public offering (the “Offering“) of units of the Company (the “Units“) for aggregate gross proceeds of a minimum of $12,000,000 and a maximum of $15,000,000. The Offering is being led by Mackie Research Capital Corporation (the “Agent“) as lead agent and sole bookrunner on a ‘commercially reasonable efforts’ basis.

The net proceeds raised under the Offering will be used by the Company to help expand its services in China related to some recently announced partnerships, to expand its services to markets outside of China, as well as for working capital and general corporate purposes.

Each Unit shall be comprised of one common share of the Company (a “Unit Share“) and one half of one common share purchase warrant of the Company (a “Warrant“). Each whole Warrant will be exercisable into one common share of the Company (a “Warrant Share“) at an exercise price to be determined in the context of the market for a period of 24 months from the date of issuance thereof. The offering price of each Unit (the “Offering Price“), and the exercise price of each Warrant will be determined in the context of the market prior to the filing of the final short form prospectus in respect of the Offering.

The Company has granted the Agent an option (the “Over-Allotment Option“) to purchase such number of additional Units as is equal to 15% of number of Units sold pursuant to the maximum Offering at the Offering Price, which Over-Allotment Option will be exercisable at any time up to 48 hours prior to the Closing Date (as defined below).

The Offering is expected to close on March 22, 2021 or such other date or dates as may be determined by the Company and the Agent (the “Closing Date“) and is subject to certain conditions including, but not limited to the execution of an agency agreement in respect of the Offering and the receipt of all necessary regulatory approvals including the approval of the Canadian Securities Exchange (the “Exchange“) and the applicable securities regulatory authorities.

The Company has given notice to list the Unit Shares and the Warrant Shares (including the Unit Shares and Warrant Shares issuable upon exercise of the Over-Allotment Option) on the Exchange. Listing will be subject to the Company fulfilling all of the requirements of the Exchange. A copy of the Prospectus is available under the Company’s profile at www.sedar.com.

The Units are to be offered on a commercially reasonable efforts agency basis through the Agent by way of short form prospectus to be filed in the provinces of Quebec, British Columbia, Alberta and Ontario. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Source: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/757215-peak-announces-short-form-prospectus-public-offering/messages/2307879#message

Peak $PKK.ca $PKKFF to Implement Digital Contract Signing Capabilities on Its Platforms through Partnership with Qiyuesuo “Contract Lock”$MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 8:26 AM on Tuesday, March 9th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Announced that is has signed an agreement with Qiyuesuo, China’s leading digital document signing service provider, that will allow members of its Lending Hub ecosystem to digitally sign legally binding agreements with one another
  • Qiyuesuo (https://www.qiyuesuo.com/) or “Contract Lock” is used by some of China’s most prominent web platforms including search engine giant Baidu and Ant Financial

Montreal, Quebec–(March 9, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that is has signed an agreement with Qiyuesuo, China’s leading digital document signing service provider, that will allow members of its Lending Hub ecosystem to digitally sign legally binding agreements with one another.

Ever since its re-launch late in the third quarter of 2020, Peak’s Gold River platform has seen an increasing amount of activity. The platform has become particularly popular with supply-chain businesses, from restaurants and retailers to factories and raw material suppliers, serving as a gateway to the Lending Hub where orders they place through Gold River can qualify for financing from the Hub’s financial institution partners. In some cases, the purchase orders are tied to contracts, which until now had to be executed offline or outside of the Gold River/Lending Hub ecosystem between the clients and suppliers. Given that contracts must bear a corporate seal in order to be legally binding in China, physical distance alone can sometimes make it difficult to do business. Case in point: Peak announced the arrival of China’s 2nd largest steel supplier, Xingcheng Special Steel Works Ltd. (“XSSW”) to its ecosystem in December 2020 but XSSW’s need for legally binding contracts has thus far limited its activity on the Gold River and Lending Hub. The announced partnership aims to remove that barrier to allow businesses typically involved in large value transactions to freely transact with one another within the Hub.

Qiyuesuo (https://www.qiyuesuo.com/) or “Contract Lock” is used by some of China’s most prominent web platforms including search engine giant Baidu and Ant Financial. Any contract signed with Contract Lock has an independent and complete digital audit record, in line with judicial evidence collection records, complies with the “Contract Law of the People’s Republic of China”, “The Electronic Commerce Law of the People’s Republic of China”, “The Electronic Signature Law of the People’s Republic of China” and has the same legal effect as a legally binding paper contract.

“Companies like Qiyuesuo are helping to revolutionize the way business is done in China, contributing to helping move the country to a more digital society and better automated processes, which is in line with Peak’s service offering,” commented Liang Qiu CEO of Peak China. “Giving raw material suppliers such as steel suppliers or petroleum based product suppliers, who typically deal with average orders worth several million dollars, the ability to enter into legally binding contracts on our platforms opens a whole new world of possibilities for us. This should have a significant impact on the value of the average size of transactions that take place throughout our ecosystem. With the integration of Contract Lock combined with everything else that our ecosystem already offers, including the upcoming implementation of our payment processing and fund transfer services, we’re truly on the verge of building an all-encompassing B2B ecosystem promoting transaction efficiency predicated on data, analytics and AI.”

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/756873-peak-to-implement-digital-contract-signing-capabilities-on-its-platforms-through-partnership-with-qiyuesuo-contract-lock/messages/2307183#message

Peak $PKK.ca $PKKFF Provides Updates on Implementation of Fund Transfer Services and Cash Position from Exercise of Warrants $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 9:26 AM on Thursday, March 4th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Reached an important step in the implementation of payment processing and fund transfer services on its Cubeler Lending Hub platform.
  • Peak remains on track to launch the payment processing and fund transfer services on Lending Hub in the second quarter of 2021.
  • Through the first two months of 2021, Peak received a total of $2,665,577 in cash as a result of the exercise of warrants, including a combined $500,000 from Peak’s CEO, CFO and China CEO

Montreal, Quebec–(March 4, 2021) –  Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has reached an important step in the implementation of payment processing and fund transfer services on its Cubeler Lending Hub platform.

Peak announced earlier this year that it had signed an agreement with China UnionPay subsidiary, Rongbang Technology Ltd. (“Rongbang”) that will allow it to process payments, settle transactions and transfer funds between lending institutions, banks and the businesses that are part of its Lending Hub ecosystem. After holding several working sessions with Rongbang’s service implementation team, the Company has now completed the setup of the test environment where virtual replications of both the Lending Hub platform and the China UnionPay network will co-exist from this point forward. Setting up the test environment was identified as one of the key milestones for the Company leading up to the launch of services. Peak is now in position to simulate transactions, test and study the results, and, if need be, make the necessary adjustments in its development environment, all of which will lead to a better understanding of the UnionPay network prior to the services going live. Peak remains on track to launch the payment processing and fund transfer services on Lending Hub in the second quarter of 2021.

Cash Position Resulting from Exercise of Warrants:

Peak’s market performance over the past few months has placed virtually all of the Company’s issued and outstanding convertible securities “in the money”. That has triggered a regular and consistent exercise of Peak warrants since about the half-way point of the fourth quarter of 2020, and continued in 2021. Through the first two months of 2021, Peak received a total of $2,665,577 in cash as a result of the exercise of warrants, including a combined $500,000 from Peak’s CEO, CFO and China CEO. This puts the Company’s cash balance at more than $7.8M as of February 28, 2021.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/756561-peak-provides-updates-on-implementation-of-fund-transfer-services-and-cash-position-from-exercise-of-warrants/messages/2306461#message

Peak’s $PKK.ca $PKKFF Lending Hub Financing Program Continues to Gain in Popularity with Some of China’s Top Retailers and Distributors $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 7:44 AM on Wednesday, February 24th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Announced the addition of distributor Dajinpengli Trading Ltd. (“DT”) and popular national convenience store chain Bianlifeng to its financing program powered by the Cubeler Lending Hub platform.
  • Bianlifeng (https://www.bianlifeng.com/) is one of China’s fastest growing and most recognized chains of convenience stores.

Montreal, Quebec–(February 24, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced the addition of distributor Dajinpengli Trading Ltd. (“DT”) and popular national convenience store chain Bianlifeng to its financing program powered by the Cubeler Lending Hub platform.

Bianlifeng (https://www.bianlifeng.com/) is one of China’s fastest growing and most recognized chains of convenience stores. It was recently added to Peak’s list of large retailers whose certified product distributors are automatically eligible to have their purchase orders financed if the orders are placed through Peak’s Gold River platform, which is now fully integrated to the Lending Hub. That rapidly growing list now includes the likes of JD.com, PetroChina convenience stores and 7-Eleven convenience stores. DT quickly took advantage of the program and its relationship with Bianlifeng and had purchase orders worth 4.2 million RMB (about CAD$800,000) financed by Lending Hub partnering financial institutions merely days following the Chinese New Year break. Peak earned approximately CAD$48,000 in fees related to the transactions when combining both Lending Hub and Gold River service fees.

Update on Peak Financial Forecasts:

Peak is currently contemplating a significant transaction with a high likelihood of completion, however, the terms are yet to be determined. Management believes the transaction would be material in nature and would have a considerable impact on its future financial performance. Peak management has therefore decided to wait until the terms of the transaction are finalized so that its impact can be reflected in the Company’s updated financial forecasts before being released to shareholders. Once an announcement about the nature and terms of the contemplated transaction is made, Peak will provide a new expected release date for the updated forecasts.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/755960-peak-s-lending-hub-financing-program-continues-to-gain-in-popularity-with-some-of-china-s-top-retailers-and-distributors/messages/2305099#message

Peak $PKK.ca $PKKFF Provides First Quarter 2021 Operational Update at Chinese New Year Break $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 9:05 AM on Tuesday, February 16th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter

Montreal, Quebec–(February 16, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today provided the following update on select segments of its operations for the first half of Q1 2021 while China pauses to celebrate the Chinese New Year / Spring Festival Holiday.

SOCIAL MEDIA INFLUENCERS FINANCING PROGRAM

After spending several months in 2020 building relationships with over 55,000 social media influencers who collectively have more than 120M followers, Peak created a program to help these influencers finance the online retail shows they use to sell goods ranging from cosmetics to household appliances to their millions of followers. The program launched earlier this year and helped finance about CAD$1M worth of goods during its first week. Since then, it has become one of the more consistent transaction generators on the Lending Hub platform, outpacing all other programs in terms of number of transactions.

Transactions through First Half of Q1 2021:

Through the first half of Q1 2021, social media influencers had received almost CAD$3M in funding through the program to finance a total of 23 shows and a variety of product purchase orders.

DISTRIBUTOR AND RETAILER FINANCING PROGRAM

While the Social Media Influencers Financing Program led the way in terms of number of transactions, Peak’s newly created Distributor and Retailer Financing Program had a slight advantage when it comes to the value of transactions facilitated at the halfway point of the quarter. That program was aided by the addition of a third distributor in January, bringing over 1,100 new retailers to the program’s existing pool of more than 310,000, and by a new cash-advance “sub-program” specifically designed for JD.com suppliers. Distributors Beijing Jingying Corporate Management Ltd. (“BJM”), who has exclusive distribution right for certain products at PetroChina convenience stores, and Xiamen Guangzhui Ltd. (“Xiamen”), whose clients include JD.com and 7-Eleven convenience stores across the country, were particularly active and accounted for most of the transactions . The average value and pace of those transactions should gradually increase as consumer electronics wholesaler Beijing Dianjing Company Ltd. (“BDC”) becomes more active following the integration of its systems to the Lending Hub platform.

Transactions through First Half of Q1 2021:

Xiamen, BJM and BDC combined to account for a dozen purchase order and cash-advance transactions worth a little over CAD$3M through the first half of Q1 2021.

GOLD RIVER PLATFORM

In addition to serving as the point of entry for the Social Media Influencers and Distributor and Retailer Financing Programs, most supply-chain financing transactions involving raw material suppliers and manufacturers are also now being funneled to Gold River. Those supply-chain financing transactions, which accounted for a large portion of Peak’s revenue over the past two years, were originally facilitated with the help of logistics software provided by a third-party company. The capabilities of that software were recently added to the Gold River platform, which is allowing Peak to gradually reduce its outsourcing expenses.

Transactions through First Half of Q1 2021:

Through the first half of Q1 2021, a total of 57 transactions worth a combined CAD$15.7M were initiated through Gold River.

CHINA UNIONPAY FUND TRANSFER AND PAYMENT PROCESSING IMPLEMENTATION

Peak announced earlier this year that it had signed an agreement with China UnionPay subsidiary Rongbang Technology Ltd. (“Rongbang”) to implement fund transfer and payment processing capabilities to its Lending Hub ecosystem. Peak has since been working with Rongbang’s service implementation team and received the APIs to directly link its Lending Hub and Gold River platforms to the China UnionPay network just prior to the holiday break. Peak is targeting the launch of a pilot project with select supply-chain clients in the city of Jiangyin in the first half of Q2 2021.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/755399-peak-provides-first-quarter-2021-operational-update-at-chinese-new-year-break/messages/2303800#message

Peak $PKK.ca $PKKFF Successfully Tests Fund Transfer Process from China to Canada $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 8:25 AM on Wednesday, February 10th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Announced that it has successfully tested the process whereby the its Chinese operating subsidiaries will periodically send funds back to Canada once the Company becomes profitable and deems it appropriate for its subsidiaries to do so.
  • “Today’s announcement has been several years in the making,” commented Peak CEO Johnson Joseph. “We’ve been following our advisors’ advice from day one and were always confident that the process would work as described.

Montreal, Quebec–(February 10, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has successfully tested the process whereby the its Chinese operating subsidiaries will periodically send funds back to Canada once the Company becomes profitable and deems it appropriate for its subsidiaries to do so.

Long before establishing its operating subsidiaries in China, Peak worked with business consultants, tax experts, legal and financial advisors specialized in helping foreign entities do business in China. Together they helped Peak create and put in place a corporate structure and file the necessary paperwork so that Peak’s subsidiaries could eventually follow a government-established process to send funds to the Company’s Canadian head office. Part of the exercise required a disclosure process with various government departments at the time of registration and creation of each subsidiary, and the continuous maintenance in good standing of prescribed regulations, all of which led to the first successful transfer of funds from Peak’s Asia Synergy Data Solutions subsidiary to the Company.

“Today’s announcement has been several years in the making,” commented Peak CEO Johnson Joseph. “We’ve been following our advisors’ advice from day one and were always confident that the process would work as described. But until recently we weren’t in a position to test it or had real grounds to do so. However, given the path that the Company is currently on and the possibility of repatriating funds from China at some point in 2021, we felt it was important for us to test the process to ensure that it actually works. We have now validated that we have a clear path and process, endorsed and prescribed by the Chinese government authorities, for our subsidiaries to send funds from China to Canada. We’re also very pleased with the amount we were able to transfer and how quickly the transaction was completed.”

Read more: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/755074-peak-successfully-tests-fund-transfer-process-from-china-to-canada/messages/2303017#message

Peak $PKK.ca $PKKFF Officially Files Application to have Its Common Shares Traded on #NASDAQ $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 8:20 AM on Monday, February 8th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Officially filed an application to have its common shares listed on the Nasdaq Capital Market stock exchange
  • Peak expects the listings review process to last six to eight weeks and for its common shares to begin trading on NASDAQ in late March or early April 2021

Montreal, Quebec–(February 8, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has officially filed an application to have its common shares listed on the Nasdaq Capital Market stock exchange (“NASDAQ”).

Peak expects the listings review process to last six to eight weeks and for its common shares to begin trading on NASDAQ in late March or early April 2021.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/754886-peak-officially-files-application-to-have-its-common-shares-traded-on-nasdaq/messages/2302631#message

Peak $PKK.ca $PKKFF Launches Cash Advance Financing Program for JD.COM Suppliers $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 8:17 AM on Wednesday, February 3rd, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Announced the launch of a new Cubeler Lending Hub financing program for JD.com (“JD”) product suppliers that will allow them to receive cash advances on product orders they get from JD.
  • Program was developed in collaboration with certified JD product supplier Xiamen Guangzhui Ltd. (“Xiamen”), which recently officially became a Lending Hub member.

Montreal, Quebec–(February 3, 2021) –  Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced the launch of a new Cubeler Lending Hub financing program for JD.com (“JD”) product suppliers that will allow them to receive cash advances on product orders they get from JD.

The program was developed in collaboration with certified JD product supplier Xiamen Guangzhui Ltd. (“Xiamen”), which recently officially became a Lending Hub member. Xiamen, which provides JD with various brands of liquor, snack foods and non-alcoholic beverages, explained the cash crunch it and other suppliers of the online giant face because they must pay product manufacturers in advance when placing orders but only receive payment from JD two weeks after the products have been delivered to JD’s warehouses. It should be noted that there are important differences between this program and the distributor and retailer financing program launched by Peak in October 2020. For instance, rather than being based on the usual AI and data analysis performed by the Lending Hub software, funding approval under this program is based solely on verified product orders from JD received by the suppliers. So the program and the lenders who accept to extend credit based on it are essentially relying on JD’s ability to pay for the orders that it has placed with the suppliers rather than on the suppliers’ ability to pay back the short-term cash advances.

Peak will collect a flat service fee equal to a percentage of the value the cash advanced on all transactions, regardless of the duration of the cash advances, while lenders who provide the funds can expect to earn interest calculated daily on the sums advanced for the duration of the terms, which typically will be for a one to two-week period. Xiamen believes that gaining access to cash advances through the program will allow it to significantly increase its business with JD. Meanwhile, the program was launched with cash advances totalling 5M RMB (about CAD$ 994,000) extended to Xiamen, related to orders for snack foods and soft drinks for the first week of February 2021.

Source: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/754513-peak-launches-cash-advance-financing-program-for-jd-com-suppliers/messages/2301765#message