On May 31, 2016 Peak Positioning Technologies Inc closed the transaction. The company issued 199,000,000 units at a price of CAD 0.02 per unit for gross proceeds of CAD 3,980,000. The transaction included participation from Jiang Wang and his group. They purchased 199,000,000 units at a price of CAD 0.02 per unit for gross proceeds of CAD 3,980,000 and now holds 51% stake in the company. The securities to be issued are subject to a hold period of four months and one day from date of closing.