Freeport Capital Inc. (FAS:CNSX) Announces Conversion of Debt

MONTREAL, Aug. 16, 2012 /CNW Telbec/ - Freeport Capital Inc. (the "Company") a leader on Mobile Credit and PIN Debit payment solutions, announces the following:

Related persons debt

The Company has approved the conversion of $489,616.00 of unpaid remuneration owed to related persons of the Company. The conversion of the aforementioned debt will be done at a price of $0.315 based on the discount on the $0.42 confidential price reserve approved by CNSX. Also, there will be ¾ warrants attached to the each common share issued and each warrant is exercisable at a price of $0.50 exercisable up to 24 months.

Conversion of bona fide consultant's debt

The Company has also approved the conversion of $ 57487.50 of legal and accounting fees. The conversion of the aforementioned debt will be done at a price of $0.315 based on the discount on the $0.42 confidential price reserve approved by CNSX. Also, there will be ¾ warrants attached to the each common share issued and each warrant is exercisable at a price of $0.50 exercisable up to 24 months.

Payment of commission to persons involved in investor relations activities

The Company announces the payment of a commission of 4% to be payable in shares to persons having been involved in investor relations activities for the raising of $ 1,676,247 through convertible loans made by Pierre McMaster and Antoine Clermont. The 4% commission amounts to $67,049.88 which will be converted into common shares at a price of $0.315 based on the discount on the $0.42 confidential price reserve approved by CNSX.

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