MONTREAL, Dec. 2, 2013 /CNW Telbec/ - Hybrid Paytech World Inc, (the "Company" or "Hybrid"), (CNSX: HPT) announces that on November 22, 2013 it has completed a private placement previously announced on November 20th, 2013 involving the issuance of unsecured convertible debentures totalling ($400,000.00) (the "Debentures"). The funds received from the private placement will be utilized for working capital and shall bear interest at rate of 10% per annum. The maturity date for the Debentures is December 31, 2014 at which time the Debentures 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 common share purchase warrants at an exercise price of $1.60 expiring twelve months from their issuance.
About Hybrid Paytech World Inc. (formerly Freeport Capital Inc.)
The Company develops an Enterprise Ready Mobile Payment Platform for the leading OS's (IOS, Android, BB and Windows 7). The Company's holding, First Equity Strategy LLC, markets itself with the DBA: HybridPaytech. Visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be
HybridPaytech based in Montreal, Canada, is a technology leader in the mobile payment space for 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. With its current banking and fund-transferring partnerships, HybridPaytech has market access to over three million merchants worldwide. For more information on HybridPaytech, please visit www.hybridpaytech.com / www.hybridpos.com
Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances
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:
Please visit www.freeportcapitalinc.com or contact Mr. Michele Tasillo 514-394-5200.