MONTREAL, March 5, 2013 /CNW Telbec/ - Freeport Capital Inc. (the
"Company") (CNSX: FAS) a leader on Mobile Credit, PIN Debit & EMV
payment solutions, announces that it is in the process of completing a
capital raise of up to $2,700,000.00 at a price of $0.90 per unit, each
unit will be comprised of one common share and three quarters of one
common share purchase warrant at a price of $1.25 exercisable within 18
months from Closing. The net proceeds from the private placement will
be used to fund the expansion of the business in the Asia Pacific
regions and Latin America as well as for working capital purposes. The
units will be sold to "accredited investors" and close business
associates in the Province of Québec on a prospectus-exempt basis.
In connection with the aforesaid financing, Capital CCFL s.e.n.c. (www.ccflcapital.com) an Exempt Market Dealer, has been mandated by the Company on a
commissions basis and will be entitled to receive a finder's fee in the
amount of 7% of the gross proceeds of the private placement in cash as
well as broker warrants and a lesser fee on existing company list
investors. The number of broker warrants to be issued to CCFL alone or
with a selling agent will be determined by dividing the finder's fee by
the issue price of the Units pursuant to the same terms and conditions
of the proposed financing except that the broker warrants would have a
term of 5 years.
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 Corporations holding 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.
Or consult the CNSX website at www.cnsx.ca