Peak Fintech Group Inc., an innovative Fintech service provider and manager of the Cubeler Business Hub, is providing the following update related to the recent activity in the exercise of the Company’s outstanding share purchase warrants.
The Company has been receiving an increasing number of warrant exercise requests since the beginning of August 2021. In the week preceding the date of this news release alone, a total of 719,820 warrants, ranging in strike price from $0.50 to $3.50, were exercised, generating approximately $1M in cash for the Company. As of the date of this news release, Peak had a total of 21,282,797 warrants outstanding, all in the money, ranging in strike price from $0.50 to $7.00, with the potential to generate approximately $60.3M in additional cash for the Company. Peak therefore expects the recent elevated level of exercise requests of its share purchase warrants to continue in the days and weeks to come. The Company would like to advise warrant holders that the processing of their warrant exercise requests may be delayed due to higher than usual demand and would like to thank them for their understanding.
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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.
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