MONTREAL, March 4, 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 that on February 28, 2014, 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 initially expire respectively on the following dates: March 10, 2014, April 28, 2014, April 30, 2014, May 5, 2014, September 11, 2014, September 28, 2014 October 5, 2014 and November 4, 2014. 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: March 10, 2015, April 28, 2015, April 30, 2015, May 5, 2015, September 11, 2015, September 28, 2015, October 5, 2015 and November 4, 2015.
The extension of the terms of the aforesaid warrants involve certain related parties and constitutes a related party transaction. The Company is relying on the exemptions provided by 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 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.