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MONTREAL, QUEBEC -- (Marketwired) -- 03/13/14 -- Peak Positioning Technologies Inc. (TSX VENTURE: PKK) ("Peak" or the "Company") today announced that it has closed a first round totalling CAD$569,796 (the "Financing") of the CAD$1 million private placement of secured convertible debenture (the "Debentures") announced on February 10, 2014. The Debentures pay an annual interest rate of 10%, mature 24 months from the date of their issuance, are secured by the aggregate assets of the Company, and allow their subscribers to convert them into Common Shares of Peak at any time prior to maturity, subject to certain terms and conditions, at a price of CAD$0.05 per Common Share during the 12-month period immediately following their issuance and CAD$0.10 per Common Share thereafter until their maturity date. Any Common Shares issued pursuant to the exercise of the conversion right of the Debentures will be subject to a hold period expiring four (4) months and one day from the date of their issuance.

The Financing is the first round in the private placement of a now revised amount of up to CAD$2 million in Debentures, which Peak intends to close on or about March 31, 2014.

Pursuant to Policy 5.9 of the TSXV and Multilateral Instrument 61-101 Respecting protection of minority security holders in special transactions ("MI 61-101"), the Financing constitutes a "related party transaction" as certain directors and officers of Peak (the "Related Parties") subscribed to the Debentures. In reviewing the applicable valuation requirements under MI 61-101, Peak has determined that the exemption set out in subsection 5.5 (a) of MI 61-101 is applicable since the aggregate consideration to be paid by the Related Parties does not exceed 25% of the market capitalization of Peak at the date hereof. In addition, subsection 5.7(a) provides that a transaction meeting such criteria is also exempt from the minority shareholder approval requirement. The board of directors of Peak has unanimously approved the Financing. Peak has not filed a material change report 21 days prior to the closing of the Financing as participation of insiders had not been established at that time.

No finder's fee or commission was paid in connection with the Financing, and Peak intends to use its proceeds for general working capital purposes.

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: http://www.peakpositioning.com

Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this press release.