MONTREAL, July 9, 2013 /CNW Telbec/ - Freeport Capital Inc. (the "Corporation" or "Freeport") (CNSX: FAS) announces that Messrs. Massimo Barone and Paolo Continelli have stepped down from their positions as board members and executive officers of Freeport in order to concentrate their efforts on the development of the Corporation's international business in the promising regions of Asia, UAE and Latin America. The Corporation also announces the formation of a new Payment Technology Committee which will be co-chaired by Messrs. Barone and Continelli, who intend to invite industry experts to join them on this committee with a view to providing guidance to Freeport's Board on payment technologies and commercialization.
Commenting on these latest developments, Mike Tasillo, the President of Freeport, stated that "Messrs. Barone and Continelli have provided us with valuable guidance and have been instrumental in developing Freeport from the ground up into a leader in mobile payments and the first in the world to achieve a Multi-OS App Payments solution with a PIN debit and EMV ready Device Host solution using Smartphone's, Tablets and Handheld devices, and with several patent pending registrations. We expect to announce in the near future the addition of new members to our board of directors in order to round out the Corporation's leadership team with international expertise."
Messrs. Barone and Continelli stated that "in the past three years, we have had the opportunity to create an amazing mobile payment technology as well as a unique strategy which is going to set the benchmark in the industry. We intend to continue assembling a top caliber executive enterprise & retail sales and administration team. We have established operations in five countries worldwide, thereby setting a foundation and strategy that has to date solidified partnerships with more than 15 world class financial institutions and Telco's globally. As we now move into a global rollout phase with our deployment of Freeport's EMV Ready Switch, Device Host & Mobile Payment Solutions, we are working with global partners with large distribution channels which will allow Freeport to have access to key segments in mature and emerging markets."
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 Corporation's holding, First Equity Strategy LLC, markets itself with the DBA: Hybrid Paytech. 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.