Freeport Capital Inc. (FAS: CNSX) Announces a Private Placement for a Maximum of $1,730,000.00
MONTREAL, Oct. 25, 2012 /CNW Telbec/ - Freeport Capital Inc. (the "Company") a leader on Mobile Credit and PIN Debit payment solutions, announces that it is in the process of completing a capital raise of up to $1,730,000.00 at a price of $0.60 per unit based on a confidential price reserve, each unit will be comprised of one common share and either, three quarters of one common share purchase warrant at a price of $1.25 exercisable within 18 months or one common share purchase warrant at a price of $1.00 exercisable within 24 months from Closing. The net proceeds from the private placement will be used to fund the expansion of the business in the Philippines 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.
The Company is also converting $ 309,198.00 of debt by the issuance of common shares at a price of $0.60 per unit, each unit will be comprised of one common share and either, three quarters of one common share purchase warrant at a price of $1.25 exercisable within 18 months or one common share purchase warrant at a price of $1.00 exercisable within 24 months from Closing.
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.
Please visit www.freeportcapitalinc.com or contact Mr. Michele Tasillo 514-394-5200.
Or consult the CNSX website at www.cnsx.ca
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