MONTREAL, May 3, 2013 /CNW Telbec/ - Freeport Capital Inc. (the
"Company") a leader on Mobile Credit and PIN Debit payment solutions,
announces the following:
Amendment of terms sheets ("Debentures") conversion terms
On March 21st 2013, the Company extended the terms of the Debentures issued to Pierre
McMaster, Antoine Clermont and partners (the "Investors").The issuances
of the Debentures have been under review by the Autorité des Marchés
Financiers ("AMF") since April 2012 and the conversion date was
extended to thirty (30) days from the written approval of the AMF. The
principal and accrued interest of the aforesaid debentures is set to be
converted into common shares at a price of $0.25. The majority of the
Investors and the board of directors of the Company have agreed that
the accrued interest calculated until September 30, 2012 shall continue
to be converted into common shares at a price of $0.25. The accrued
interest from October 1st, 2012 ending on the date the AMF conveys its approval to convert the
debentures shall be converted into common shares at a price of $ 0.81.
Issuance of Warrants
The Company announces that it shall issue 1,050,000 warrants at an
exercise price of $1.499 expiring 18 months from issue. Said warrants
shall be issued at a price of $0.001 per warrant.
Conversion of debt
The Company also announces that it shall convert consultant fees in the
amount of $100,000.00 into common shares at a price of $0.81.
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX: FAS) develops an Enterprise Ready Mobile
Payment Platform for the leading OS's (IOS, Android, BB and Windows 7).
The Corporation wholly owned subsidiary First Equity Strategy LLC
markets itself with the DBA: HybridPay Tech. Visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be
The Canadian National Stock Exchange (CNSX) has not reviewed this news
release and does not accept responsibility for its adequacy or
accuracy. This news release does not constitute a solicitation to buy
or sell any securities in the United States.
SOURCE: Freeport Capital Inc.
For further information:
Please visit www.freeportcapitalinc.com or contact Mr. Michele Tasillo 514-394-5200.