MONTREAL, QUEBEC -- (Marketwire) -- 02/17/11 -- Java Capital, Inc. (the "Issuer") (TSX VENTURE: PKK) which acquired all of the shares of Peak Positioning Corporation ("Peak Positioning" or the "Company") today announced that, subsequent to the Issuer's listing on the TSX Venture Exchange on February 14th 2011, CHF Investor Relations has been engaged, effective immediately. CHF is a highly regarded Canadian investor relations firm headquartered in Toronto and operating under the same management for the past eighteen years.
Peak Positioning is a Montreal-based IT security solution provider and creator of the "HomeWave" service. HomeWave is a patent-pending wireless-based remote security, forensic analysis and asset location service for notebooks, tablet computers and PDAs. The HomeWave service was developed to help businesses fight the growing problems associated with the loss and theft of portable computers and devices by providing a way to use wireless communications to remotely disable these items when lost or stolen as well as to remotely determine what, if any, files were accessed on the missing systems while they are still missing. HomeWave is the result of years of research and collaboration between Peak and global leaders in the fields of hardware engineering, wireless communications and location-based technologies.
Johnson Joseph, President and CEO, commented "Our first year as a TSX Venture company will be especially goal-oriented as we move to commercialize the Homewave service, first in Asia, then expand into North America. Having CHF on board will help ensure that we fulfill our public company reporting responsibilities, attend to the needs of our shareholders and consistently corral new investor interest in our Company."
Subject to TSX Venture Exchange approval, the agreement for investor relations and market-making services is for a term of twelve months. Performance under the agreement may be reviewed after six months and the agreement may be extended by up to one year. Under the terms of the agreement, CHF will receive $7,500 per month in fees and reimbursement of expenses. As part of this agreement CHF will be granted 750,000 stock options which will be priced after the shares have been listed for at least five days; such grant will be disclosed in a future announcement.
It has been agreed that CHF will initiate its Market Liquidity Program ("MLP") more commonly referred to as market-making, through its Calgary office. The MLP will be undertaken by CHF through a registered broker, Mackie Research Corporation, in compliance with the guidelines set out in Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual.
CHF's Chairman, D'Arcy Funfer, was a director of Java Capital, Inc. when it executed the qualifying transaction (QT) with Peak Positioning. He resigned his directorship on February 8, 2011, coincident with closing of the QT. Mr. Funfer owns 900,000 PKK shares in escrow and 180,000 options to purchase PKK shares at $0.10 that will be cancelled on March 10th 2011. CHF's CEO, Catherine Hume, owns directly or indirectly an aggregate of 1,200,000 PKK shares purchased from the private placement financing related to the QT.
About CHF Investor Relations
CHF's effective role is acting as the public company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX/TSX Venture and CNSX-listed companies that operate in a broad range of industries including high-tech, mining exploration and producers, oil & gas, renewable energy and industrial services, biotech, and consumer products. The depth of capital market experience is formidable dating back to the late 1970's.
About Peak Positioning
Founded in 2004, Peak Positioning developed the HomeWave service, a patent-pending wireless-based data protection and forensic analysis solutions for mobile computing devices such as notebooks, netbooks and PDAs, to help businesses fight the growing problem of lost and stolen mobile computers. The Company has worked with leaders in the fields of hardware engineering, wireless communications and location-based technologies to develop the HomeWave service along with a portfolio of additional wireless services, including remote technical support, for the mobile computing industry. Shares of Peak Positioning Corporation are wholly-owned by Java Capital, Inc., whose shares are listed for trading on the TSX Venture Exchange under the symbol "PKK".
Forward-Looking Statements / Information
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects, 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 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Java Capital, Inc. & Peak Positioning Corporation
Johnson Joseph
President & CEO
Head Office: 514-340-7775
investors@peakpositioning.com
CHF Investor Relations
Anne Robert
514-510-6338
anne@chfir.com
CHF Investor Relations
Christopher Haldane
416-868-1079 ext. 237
chris@chfir.com