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Freeport Capital Inc. (CNSX: FAS) Announces the extension of the terms of certain warrants for an additional twelve (12) months
Apr 26, 2013 (04:04 PM EDT)


MONTREAL, April 26, 2013 /PRNewswire/ - Freeport Capital Inc. (the "Company") a leader on Mobile Credit and PIN Debit payment solutions, announces that on April 26th, 2013, 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: December 21, 2013, September 30, 2013, January 1, 2014, December 21, 2013, February 10, 2014, February 13, 2014, September 30, 2014 and April 30, 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: December 21, 2014, September 30, 2014, January 1, 2015, December 21, 2014, February 10, 2015, February 13, 2015, September 30, 2015 and April 30, 2015.

Date
Issued
Exercise
Price
Number of
Amended
Warrants
Expiry
Date
Amended
Expiry Date
21-06-2012 $ 1.25 150 000 21-12-2013 21-12-2014
13-07-2012 $ 1.25 1 128 947 30-09-2013 30-09-2014
12-07-2012 $ 1.25 156 251 12-01-2014 12-01-2015
17-08-2012 $ 1.25 200 001 21-12-2013 21-12-2014
11-09-2012 $ 1.25 561 251 10-03-2014 10-03-2015
14-09-2012 $ 1.25 62 501 13-03-2014 13-03-2015
31-10-2012 $1.25 537 500 30-04-2014 30-04-2015

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 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 Corporations holding First Equity Strategy LLC markets itself with the DBA: HybridPay Tech.

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.