Home > Boards > Free Zone > Penny Fundamentals > Stock Room

$PKKFF Peak Fintech Completes Acquisition of Analytics and

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
AskMuncher Member Profile
Member Level 
Followed By 398
Posts 17,351
Boards Moderated 1
Alias Born 06/07/18
160x600 placeholder
As Federal Reserve Looks Toward Lifting Interest Rates, China's Central Bank Goes in Other Direction -- WSJ
Good day. Discussing the possibility of raising the Fed's short-term interest-rate target, Federal Reserve Bank of New York President John Williams said Friday that "Given the clear signs of a very strong labor market, we are approaching a decision to get that process under way." The vice chairman of the rate-setting Federal Open Market Committee added that he sees the target rising gradually to around 2% over time. On Monday, the People's Bank of China went in the other direction, cutting two key interest rates that would likely translate into lower benchmark lending rates, in a bid to provide more support for a slowing economy.
New York Manufacturing Activity Stalled in January -- NY Fed
Activision Stock Jumps in Premarket on Reported Sale to Microsoft
Antares Gets FDA Fast-Track Designation for ATRS-1902 for Adrenal Crisis Rescue
Surgalign Shares Surge Premarket on FDA OK of HOLO Portal for Spine
Aecon Group Secures $126 Million Contract in Washington State
Bluebird Bio: FDA Extends Reviews of Beti-Cel, Eli-Cel
UK Watchdog Invites Comments on S&P Global, IHS Markit Merger
United Therapeutics: FDA Acknowledges Acceptance of Tyvaso DPI Application
PNC Financial Revenue Grows, Earnings Decline on Higher Expenses
Greece Hires Banks for 10-Year Government Bond Issue
Bank of New York Mellon 4Q Profit Rises
Belgium Sells EUR5 Billion in New 10-Year Government Bond
EUROPEAN MIDDAY BRIEFING - Stocks Fall, Technology, Travel and Leisure Sectors Lead Losses
Truist Financial 4Q Boosted by Credit Provision Benefit
North American Morning Briefing: Bond Yields Hit Two-Year High as Stock Futures Fall
Goldman Sachs Upgrades Brent Forecast to $100 a Barrel
Siemens Gamesa, Iberdrola Sign Supply Contract in Spain
Top Company News of the Day
UK Regulator Fines Five Companies GBP33 Million Over Card Collusion
Guild eSports Secures GBP4.5 Million Sponsorship Deal With Bitstamp
FTSE 100 Falls as Traders Bet on Rate Rises
Novatek Proven Hydrocarbon Reserves Rose 0.3% in 2021
Fortum in Russian Wind Power Cooperation With Bank GPB
Jobs Data Could Support Sterling Ahead of Next BOE Decision
Oxford Cannabinoid Technologies Expects 1st Half 2022 Results to Be in Line With Views
FTSE 100 to Open Lower as Jobs Data Support Rate Rise Bets
UK Explores Payments to Energy Companies to Protect Customers From Soaring Prices, the FT Reports
AskMuncher Member Level  Sunday, 10/03/21 11:52:38 PM
Re: None
Post # of 11973 
$PKKFF Peak Fintech Completes Acquisition of Analytics and AI Company Cubeler Inc.
Press Release | 10/01/2021
Peak Fintech Completes Acquisition of Analytics and AI Company Cubeler Inc.
Canada NewsWire

MONTREAL, Oct. 1, 2021

MONTREAL, Oct. 1, 2021 /CNW/ - Peak Fintech Group Inc. (CSE: PKK) ("Peak" or the "Company"), an innovative Fintech service provider and manager of the Cubeler Business Hub, today announced that it has officially acquired analytics and AI company Cubeler Inc. ("Cubeler").

Peak Fintech Group Inc. Logo (CNW Group/Peak Fintech Group Inc.)

Cubeler (https://www.cubeler.com/) is the developer and owner of the technology that powers Peak's Business Hub. Peak first announced its intension to acquire Cubeler on August 16, 2021 pending satisfactory due diligence, a pricing report on Cubeler and a fairness opinion from an independent third party on the proposed acquisition. Peak is pleased to announce that it has now acquired 100% of Cubeler's issued and outstanding shares form Cubeler's shareholders in exchange for $1,000,000 in cash and 11,133,012 common shares of Peak (the "Acquisition"). Under the terms of the Acquisition, the Peak common shares received by Cubeler's shareholders will initially be restricted for a four-month period, following which 50% of the shares will be free-trading and the remaining 50% will be released and become free-trading over a two-year period on the anniversary date of the closing of the transaction.

With the acquisition of Cubeler, Peak now owns the worldwide commercial rights to the Business Hub concept, which the Company is looking forward to expanding beyond China's boarders, beginning with a Hub in Canada planned for later this year. "We couldn't be more excited about getting this transaction closed to finally be able to launch our operations here in our own backyard," commented Peak CEO Johnson Joseph. "I'd like to take this opportunity to thank our Canadian financial institution partners and the hundreds of SMEs that have pre-registered on the platform and have been patiently waiting for the Canadian launch of the Hub. I promise we'll do our best to get going as quickly as possible to do whatever we can to help your businesses reach new heights. We've been able to fill some key positions to help us do that over the past couple of months, but we still have more to fill. So, if you're reading this news release and have skills in AI, analytics, marketing, software development, graphic design, etc., consider this a personal invitation, we'd love to hear from you. Please send us your CV at careers@cubeler.com and let's work together to use the power of AI and analytics to help small businesses around the world continue to positively impact their communities".

The Acquisition is expected to constitute a "related party transaction", as defined within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as Johnson Joseph, Chief Executive Officer and director of Peak; Liang Qiu, director of Peak; Jean Landreville, Chief Financial Officer of Peak; Charles-André Tessier, director of Peak; and Mark Dumas, director of Peak (collectively the "Related Parties"), are all shareholders of Cubeler. The Acquisition will be exempt from (i) the formal valuation requirements of Section 5.4 of MI 61-101 by virtue of Subsection 5.5(a) of MI 61-101, and (ii) the minority shareholder approval requirements of Section 5.6 of MI 61-101 by virtue of Subsection 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the consideration to be received by the Related Parties shall not exceed an amount equal to 25% of Peak's market capitalization.

About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating primarily in the commercial lending industry. Peak's subsidiaries bring together lending financial institutions and businesses to create the Cubeler Business Hub, an ecosystem where analytics and artificial intelligence are used to facilitate transactions among members of the ecosystem. For more information: http://www.peakfintechgroup.com

For more information, please contact:

CHF Capital Markets

MZ Group – MZ North America

Peak Fintech Group

Cathy Hume, CEO

Mark Schwalenberg, CFA

Barry Ellison, Director of Marketing
and Communications

416-868-1079 ext.: 251

1-312-261-6430

514-340-7775 ext.: 521

cathy@chfir.com

PEAK@mzgroup.us

bellison@peakfintechgroup.com

Follow Peak Fintech Group Inc. on social media:

Twitter: @peakfintech

Facebook: @peakfintech

LinkedIn: Peak Fintech

YouTube: Peak Fintech

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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/peak-fintech-completes-acquisition-of-analytics-and-ai-company-cubeler-inc-301389907.html

Hi my posts are for entertainment purposes only. Consult a professional. And if it lasts longer than 4 hours, call a physician with a good camera.

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences