MONTREAL, June 27, 2014 /CNW Telbec/ - Hybrid Paytech World Inc. (CSE: HPT) (OTC-FPOTF) (the "Company") a leader on Mobile Credit and PIN Debit payment solutions, announces that on this date it has extended the terms of certain series of warrants for a period of twelve (12) months issued on the dates mentioned in the grid below. The grid below also provides information as to the number and exercise price of the warrants. The warrants were to expire respectively on the following dates: September 30, 2014, December 21, 2014 and January 12, 2015. As a result of the extension of the terms of these warrants for an additional twelve (12) months, the amended warrant expiry dates are respectively the following: September 30, 2015, December 21, 2015 and January 12, 2016.
| Number of
|21-06-2012||$ 1.25||150 000||21-12-2014||21-12-2015|
|13-07-2012||$ 1.25||1 128 947||30-09-2014||30-09-2015|
|12-07-2012||$ 1.25||158 334||12-01-2015||12-01-2016|
|17-08-2012||$ 1.25||200 001||21-12-2014||21-12-2015|
The extension of the terms of the aforesaid warrants constitutes a related party transaction, and the Company is relying on the exemptions provided in sections 5.7.1(a) and 5.5. (a) of Regulation 61-101 Respecting Protection of Minority Security Holders in Special Transactions, the board of directors having acted in good faith with respect to the determination of the fair market value of the transaction concerning the exemption threshold.
About Hybrid PayTech World Inc.
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. International subsidiaries include Hybrid PayTech Asia Inc, Hybrid PayTech Aspac HK Ltd, Vault Acquiring Solutions LLC and Mobi724 Inc.
For more information on our Company, visit www.hybridpaytechworld.com
Hybrid PayTech based in Montreal, Canada, is a technology leader in the mobile payment space for EMV (certification level for credit and debit) & MSR (magnetic card reader) 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.
The Canadian Securities Exchange (CSE) 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. www.hybridpaytech.com or contact Mr. Stephane Boisvert at 514-394-5200.