MONTREAL, April 10, 2013 /CNW Telbec/ - Freeport Capital Inc. (the
"Company") a leader on Mobile Credit and PIN Debit payment solutions,
announces that on March 28th and April 5th, 2013, it has successfully closed the second and third tranche of the
private placement previously announced on March 5, 2013 and
re-announced on March 27, 2013. The final tranche completes the private
placements. Pursuant to the aforesaid private placements, 4,463,936
common shares of the Company were issued at an issue price of $ 0.90
per common share for aggregate gross proceeds of $4,017,542.40. The
Company also issued 3,347,952 common share purchase warrants at an
exercise price of $1.25 each expiring September 28, 2014 and October 5,
2014 respectively. The combined aggregate gross proceeds received to
date from the first tranche (March 11th, 2013), second tranche (March 28th, 2013) and third final tranche (April 5th, 2013) private placements amount to $4,869,044.60 for a total issuance
of 5,410,050 common shares and 4,057,538 common share purchase
warrants. The net proceeds from the private placement will be used to
fund the expansion of the business in the Asia Pacific regions and
Latin America as well as for working capital purposes. As a result of
the foregoing private placement, the Company now has a total of
33,639,093 common shares issued and outstanding.
In connection with the second and third tranche private placement,
Freeport paid to Capital CCFL s.e.n.c. (www.ccflcapital.com), an Exempt Market Dealer, a finder's fee in the amount of $111,429.64.
Capital CCFL s.e.n.c. also received 123,810 broker warrants at an
exercise price of $1.25 expiring 5 years from issuance and 59,825
broker warrants at an exercise price of $1.25 expiring 18 months from
issuance.
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.
Please visit www.freeportcapitalinc.com or contact Mr. Michele Tasillo 514-394-5200.