Peak Positioning Technologies Inc.

Peak Positioning Technologies Inc.

February 05, 2014 16:18 ET

Peak Announces Changes to Its Board of Directors

MONTREAL, QUEBEC--(Marketwired - Feb. 5, 2014) - Peak Positioning Technologies Inc. (TSX VENTURE:PKK) ("Peak" or the "Company") is pleased to announce the appointment of Mr. David Kugler to the Company's Board of Directors.

Owner of Newfield Partners LLC, a private investment company that consults on global business development, Mr. Kugler brings over 25 years of executive experience in investment management and capital markets to Peak's Board of Directors. Most recently, Mr. Kugler managed the New York office of private equity firm Equities First Holdings LLC, developing the company's business in the USA, Canada, China, and Hong Kong. Mr. Kugler also has several years of public company management experience as a former US mutual funds President, and a wide range of international business exposure as a hedge fund director.

In addition to his appointment to the Company's Board of Directors, Mr. Kugler is also expected to join Peak's management team in the near future, pending required regulatory paperwork, and as such will play an instrumental role in guiding and executing the Company's business strategy as well as directing the Company's capital markets activities in Canada, the U.S. and abroad.

"As a development-stage technology company, one of the biggest challenges facing our Company is maintaining its strategic focus and accessing the capital markets to develop its products. Peak is currently at a stage where it needs an individual with particular skillsets of strategic vision and capital markets experience to help it execute its business plan, and that's exactly what Mr. Kugler brings to the Company", said Johnson Joseph, President and CEO.

"I am very happy to join Peak's Board of Directors and eventually the management team and will focus on developing Peak shareholder value. I look forward to working with all Peak stakeholders to execute value added strategic initiatives in Canada, the U.S. and China", said Mr. Kugler.

In order to pave the way for the appointment of Mr. Kugler to the Board of Directors, as well as other candidates currently being considered, Mr. Kerrigan Turner and Mr. Georges Hébert resigned from Peak's Board of Directors on January 29, 2014 and January 30, 2014 respectively. Mr. Turner and Mr. Hébert will continue to be close to, and strong supporters of the Company and continue to assist Peak in various capacities when and if called upon. Peak would like to take this opportunity to thank Mr. Turner and Mr. Hébert for their unwavering support during their time of service on the Board and wishes them the very best in their future endeavours.

About Peak Positioning Technologies Inc.:

Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for mobile smart devices, and application provider to mobile network operators (MNO) worldwide. In association with its partner, LongKey-Hong Kong Ltd, the company has developed the AiNi™ Mobile Cloud platform. AiNi™ is an enhanced version of the mobile smart device O/S equally designed for the benefit of consumers and MNOs, and marketed to MNOs as a solution to increase and maintain their mobile subscriber bases. AiNi™ comes with a suite of standard applications and features and offers MNOs the possibility to have additional custom applications and features developed and integrated to the platform. For more information:

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.

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