ThreeD Capital announces Peak Fintech completes acquisition of Cubeler
By Edlyn Cardoza
ThreeD Capital Inc., a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, has reported that Peak Fintech Group Inc., an innovative FinTech service provider and manager of the Cubeler Business Hub, has officially acquired 100% of the issued and outstanding shares of Cubeler Inc. in exchange for $1,000,000 in cash and 11,133,012 common shares of Peak. Cubeler is an analytics and AI company and the developer and owner of the technology that powers Peak’s Business Hub.
Prior to the Acquisition, ThreeD held equity securities in both Cubeler and Peak. As a result of the Acquisition, ThreeD is receiving 322,069 common shares of Peak and approximately $28,900 in cash in exchange for its shares of Cubeler.
Under the terms of the Acquisition, the Peak common shares received by Cubeler’s shareholders will initially be restricted for four months, 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.
ThreeD Capital Inc. is a publicly traded Canadian-based venture capital firm focused on opportunistic investments in companies in the Junior Resources, Artificial Intelligence and Blockchain sectors. ThreeD seeks to invest in early-stage, promising companies and ICOs where it may be the lead investor and provide investees with advisory services, mentoring and access to the Company’s ecosystem.
Peak Fintech Group is a publicly traded IT Portfolio Management Company whose mission is to assemble, finance and manage a portfolio of high-growth-potential companies and assets in some of the fastest-growing tech sectors in China, including FinTech, e-commerce, and cloud computing. Peak is traded on the CSE and provides its shareholders with exceptional growth potential by giving them access to the fastest growing sectors of the world’s fastest-growing economy.
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