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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

Peak $PKK.ca $PKKFF Appoints Banking Executive Dana Ades-Landy to Its Board of Directors $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 9:31 AM on Friday, January 29th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Added former banking executive, Dana Ades-Landy to its Board of Directors
  • Over 25 years of experience in strategic development, governance and advocacy in the banking and financial services sector.
  • Experience includes: Senior positions at National Bank, KPMG, Laurentian Bank

Montreal, Quebec–(January 29, 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 added former banking executive, Dana Ades-Landy to its Board of Directors.

Ms. Ades-Landy has over 25 years of experience in strategic development, governance and advocacy in the banking and financial services sector. She is currently in her second tour of duty with the National Bank of Canada where she works with the bank’s special loans group, managing a diverse portfolio of commercial and corporate clients while providing coaching and mentoring to the group’s less seasoned members. She first worked at the National Bank of Canada from 1993 to 2004 occupying various management and executive positions, culminating with the position of Vice-President, Credit Risk and Specialized Products.

Ms. Ades-Landy spent 3 years at KPMG as a Senior Vice-President and Associate providing the firm’s corporate clients with advice in the fields of insolvency, restructuring, turnaround, and business revitalization. She left KPMG in 2006 and went on to spend the following 10 years holding Senior Vice-President and Vice-President positions at the Laurentian Bank of Canada and Scotia Bank, respectively, before serving as CEO of the Quebec chapter of the Heart and Stroke Foundation of Canada from 2016 to August 2020.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/754200-peak-appoints-banking-executive-dana-ades-landy-to-its-board-of-directors/messages/2300968#message

Peak $PKK.ca $PKKFF Continues Expansion of Retailer Financing Program with Addition of 3rd Distributor $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 7:53 AM on Thursday, January 28th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter

Montreal, Quebec–(January 28, 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 beverage distributor Xiamen Guangzhui Ltd. (“Xiamen”) became the third distributor after Beijing Dianjing Company Ltd. and Beijing Jingying Corporate Management Ltd. to join the Company’s program specifically created to bring financing solutions to wholesale distributors and their retail clients through the Cubeler Lending Hub platform.

Xiamen has over 1,100 retail clients, including e-commerce giant JD.com, and owns distribution rights to several popular beverages in China, including exclusive rights for Red Bull energy drinks at PetroChina convenience stores in Guizhou province. Xiamen expects to distribute approximately 24 million cans of Red Bull per year worth about CAD$ 19.6M and will now use Peak’s Lending Hub powered program to finance its acquisitions of the popular energy drink. Clients purchasing merchandise from Xiamen are also eligible to have their purchase orders financed through the program.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/754106-peak-continues-expansion-of-retailer-financing-program-with-addition-of-3rd-distributor/messages/2300730#message

Peak $PKK.ca $PKKFF Records First Transactions Related to Agreement with Packaged Foods Distributor “BJM” $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 8:09 AM on Monday, January 25th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Recorded the first series of transactions related to the Company’s agreement with packaged foods wholesale distributor Beijing Jingying Corporate Management Ltd. (“BJM”).
  • The agreement between Peak and BJM was announced in November 2020 and ties into a program whereby Peak’s Lending Hub platform is to bring financing solution to product distributors and their client. BJM, which has more than 250,000 retail clients, was the second distributor to sign on to the program.
  • During the first two weeks of January 2021, credit totalling 4M RMB (about CAD$785,000) was extended to almost 900 BJM clients to help them acquire supplies from BJM, mostly RELX brand e-cigarettes, for which BJM is the exclusive distributor to PetroChina convenience stores.
  • Peak earned service fees amounting to 240,000 RMB (about CAD$47,000) related to the transactions.

Montreal, Quebec–(January 25, 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 recorded the first series of transactions related to the Company’s agreement with packaged foods wholesale distributor Beijing Jingying Corporate Management Ltd. (“BJM”).

The agreement between Peak and BJM was announced in November 2020 and ties into a program whereby Peak’s Lending Hub platform is to bring financing solution to product distributors and their client. BJM, which has more than 250,000 retail clients, was the second distributor to sign on to the program. During the first two weeks of January 2021, credit totalling 4M RMB (about CAD$785,000) was extended to almost 900 BJM clients to help them acquire supplies from BJM, mostly RELX brand e-cigarettes, for which BJM is the exclusive distributor to PetroChina convenience stores. Peak earned service fees amounting to 240,000 RMB (about CAD$47,000) related to the transactions.

Read more: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/753840-peak-records-first-transactions-related-to-agreement-with-packaged-foods-distributor-bjm/messages/2300009#message

Peak $PKK.ca $PKKFF Signs Agreement with China UnionPay Subsidiary to Implement Payment Processing and Fund Transfer Services to Cubeler Lending Hub Ecosystem $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 7:52 AM on Monday, January 18th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Peak becomes a transaction aggregator partner for Rongbang and will now be able to control the flow of funds within the Lending Hub ecosystem from start to finish.
  • Peak’s clients will have virtual bank accounts within the Lending Hub ecosystem where they can hold cash balances and pay for products and services.
  • Peak will have the ability to debit and credit its clients’ real bank accounts held outside of Lending Hub, as well as offer new value-added services, such as escrow services.
  • Any transaction involving the movement of funds will earn Peak a service fee, potentially doubling current transaction fees, earning new fees on loan disbursements and every loan repayment transaction.
  • Peak will earn a 1.5% to 3.0% annual fee on the aggregate value of the funds held in its clients’ virtual bank accounts.
  • First transactions expected to be processed in Q2 2021.

Montreal, Quebec–(January 18, 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 signed an agreement with China UnionPay subsidiary, Rongbang Technology Ltd. (“Rongbang”), that will give the Company the ability to process payments, settle transactions and transfer funds between lending institutions, banks and the businesses that are part of its Lending Hub ecosystem.

Read more: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/753248-peak-signs-agreement-with-china-unionpay-subsidiary-to-implement-payment-processing-and-fund-transfer-services-to-cubeler-lending-hub-ecosystem/messages/2298549#message

Peak’s $PKK.ca $PKKFF Lending Hub Helps Facilitate First Loans to Network of 55,000 Social Media Influencers $MOS.ca $MOGO.ca CTZ.ca $TRAD.ca

Posted by AGORACOM-JC at 7:54 AM on Monday, January 11th, 2021
Peak Fintech Group (@PEAK_Fintech) | Twitter
  • Announced that its Cubeler Lending Hub commercial lending platform helped facilitate the first loans to the Company’s network of over 55,000 social media influencers.
  • Social media influencers have become a powerful sales force in the retail space in China and Peak has managed to develop relationships with some of the country’s most popular influencers over the past 10 months.

Montreal, Quebec–(January 11, 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 its Cubeler Lending Hub commercial lending platform helped facilitate the first loans to the Company’s network of over 55,000 social media influencers.

Social media influencers have become a powerful sales force in the retail space in China and Peak has managed to develop relationships with some of the country’s most popular influencers over the past 10 months. These Internet trend-setters organize product showcase events broadcasted on social media platforms such as TikTok and WeChat to sell everything from cosmetics to household appliances. Through the first week of January 2021, the Lending Hub helped finance events organized by 15 social media stars where clothing and accessories worth about 5.2M RMB (a little over CAD$1M) were sold, earning the platform almost CAD$20,000 in service fees. Peak plans to continue to work with its network of influencers and their 120M+ followers to help retailers, local and foreign, take advantage of the power of social media.

Read More: https://agoracom.com/ir/PeakFintechGroup/forums/discussion/topics/752720-peak-s-lending-hub-helps-facilitate-first-loans-to-network-of-55-000-social-media-influencers/messages/2296943#message