MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2012) - Peak Positioning Technologies Inc. ("Peak") (TSX VENTURE:PKK) today announced that it had revised the terms for the private placement previously announced (October 4, 2012) and has adjusted the unit price to $0.08, from $0.10, to align the offering with the market price of its shares.

Accordingly, a maximum of 12,500,000 units will be offered at $0.08 each, for same gross proceeds of $1,000,000. Each unit will consists of one (1) common share and one half (1/2) of one common share purchase warrant. Each full warrant will entitle its holder to purchase one common share of Peak, at the price of $0.15, for a 12 month period following the closing date. All securities issued pursuant to the private placement will be subject to a hold period of four (4) months.

Peak intends to use the proceeds for general working capital purposes and for the development of its mobile applications. A finder's fee consisting of a cash payment of 8% of the gross proceeds raised and, if permitted by securities laws, share purchase warrants in an amount equal to 8 % of the gross proceeds (excluding any amount subscribed or by insiders), may be paid to eligible persons in connection with the offering. Such warrants will entitle the holder to purchase one common share of Peak, at the price of $0.15 for a period of 12 months following the closing.

Certain directors of Peak are expected to participate in the private placement for an aggregate amount of $155,000. Pursuant to Policy 5.9 of the TSXV and Regulation 61-101 Respecting protection of minority security holders in special transactions ("Rule61-101"), each of these transactions will constitute a "related party transaction" and as such, minority shareholder approval and a formal valuation may be required. However, the board expects that such transactions will meet the exemptions set out in Rule 61-101.

The securities being offered have not been, nor will they be registered under the United States securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Peak Positioning Technologies Inc.

Peak Positioning Technologies Inc. (TSX VENTURE:PKK), is a Canadian software developer for smartphones and other mobile computing devices, conducting business primarily in China and North America. For more information: [ www.peakpositioning.com ].

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