MONTREAL, June 21, 2012 /CNW Telbec/ - Freeport Capital Inc., (the "Corporation" or "Freeport"), (CNSX: FAS) is pleased to announce that it has raised $1.2mm in capital at a price of $0.60 with a ¾ purchase Warrant attached to each common share at an exercise price $1.25 good for 18 months. The $1.2mm will be invested into the Corporation over a 12 month period or sooner by the investor with an initial deposit of $120k and the remaining payments disbursed over the course of 14 months equally.
President Mr. Michele Tasillo stated "We are very excited to have secured an important commitment at this stage of the corporation's growth. This funding gives us the secured capital for daily operations, hiring of expert personnel and manoeuvrability to acquire needed equipment to manage and grow our Data-Center. The next 12 months are crucial as we commercialize and deploy our products and services globally, we can be assured our cash-flow is available to meet current and future needs."
About Freeport Capital Inc.
First Equity Strategy LLC (DBA; Hybrid Paytech is a subsidiary of Freeport Capital Inc. Based in Montreal, Canada; Hybrid Paytech is a technology leader in the mobile payment space for credit and debit acceptance. With a global footprint, Hybrid Paytech is an enabler of easily deployable payment systems focusing on authentication, approved security and quick merchant adoption in fleet, delivery, logistics and retail.
For further information on Hybrid PayTech, please 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.