MONTREAL, Nov. 20, 2013 /CNW Telbec/ - Hybrid Paytech World Inc, (the
"Company" or "Hybrid"), (CNSX: HPT) announces that it is in the process of completing the issuance of an
unsecured convertible debentures totalling ($ 400,000.00) (the "Debenture") which shall be used for working capital.
The Debenture shall have a maturity date of December 31, 2014 at which
time the Debenture shall be convertible into common shares (the
"Shares") of the Company at a price of $1.25 per common share, and each
common share converted comes with ¾ purchase warrants at an exercise
price of $1.60 expiring twelve months from their issuance.
The participation of Anton Investments Inc. and Franco Pacetti in the
private placement of Debentures constitute a "related party
transaction" under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the Company was exempt from both the formal valuation and
minority shareholder approval requirements of MI 61-101 in connection
with the private placement on the basis of the financial hardship of
About Hybrid PayTech World Inc. (CNSX:HPT)
Hybrid PayTech World Inc. Develops an Enterprise Ready Mobile Payment
Platform for the leading OS's (IOS, Android, BB and Windows 6,7,8). The
Corporation's holding, First Equity Strategy LLC, markets itself with
the DBA: Hybrid Paytech. Visit www.hybridpaytech.com and click on our corporate video presentation www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be
HybridPaytech based in Montreal, Canada, is a technology leader in the mobile payment
space for EMV& MSR credit and debit acceptance. With a global
footprint, Hybrid is an enabler of easily-deployable payment systems
focusing on authentication, approved security and quick merchant
adoption in Fleet, Delivery, Logistics and Retail. For more information
on Hybrid PayTech, please visit www.hybridpaytech.com or www.hybridpos.com
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: Hybrid PayTech World Inc.
For further information:
SOURCE Hybrid PayTech World Inc. (formerly Freeport Capital Inc.)
For more information, please visit www.hybridpaytechworld.com or contact
Mike Tasillo 514.394.5200 / email@example.com