MONTREAL, Feb. 28, 2014 /PRNewswire/ - Hybrid Paytech World Inc. (the "Company" or "Hybrid") (CSE: HPT) (OTC: FPOTF) a leader on Mobile Credit and PIN Debit payment solutions, announces the following:
Exercise of Warrants ("Warrants")
Further to the announcement of January 21st, 2014, the Company announces that Pierre McMaster, 9136-2574 Quebec Inc. (Antoine Clermont), Amen Création Inc. and Stéphane Tremblay (together the "Investors") have, on or prior to February 9th, 2014, exercised their warrants at $0.30. Pursuant to the exercise, the Company has issued the following Common Shares:
- Pierre McMaster : 2,519,120 common shares;
- 9136-2574 Québec Inc. (Antoine Clermont) : 4,124,894 warrants;
- Amen Création Inc. : 500,000 common shares;
- Stéphane Tremblay: 369,760 common shares;
Amen Creation Inc. retains a balance of 473,259 warrants with an exercise price of $0.40 expiring on March 11, 2014. Further to the issuance of the aforesaid shares, the total outstanding common share on a non-diluted basis is 43,299,502.
Grant Stock Options
Hybrid also announces that it has granted 180,000 stock options to Brad Romoff, Scott Pritchard, Gill Broome and David Luxton. Each option granted shall entitled each optionee to purchase one (1) common share of the Company at an exercise price of $0.50 expiring on February 28th, 2017. The options granted shall vest immediately upon grant and any shares issued on the exercise of these stock options will be subject to a four-month hold period from the date of 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.