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SOURCE Hybrid PayTech World Inc.
MONTREAL, Dec. 23, 2013 /PRNewswire/ - Hybrid Paytech World Inc. (the "Company") (CNSX: HPT) (OTC: FPOTF) a leader on Mobile Credit and PIN Debit payment solutions, announces the following:
Conversion of Debentures ("Debentures")
On December 13, 2013, the Company has received the approval of the Autorité des Marchés Financiers ("AMF") to convert the debentures issued to Pierre McMaster, 9136-2574 Quebec
Inc (Antoine Clermont), Amen Création Inc. and Stéphane Tremblay
(together the "Investors"). Pursuant to the agreement between the
Company and the Investors, the Investors have until January 12, 2014 to
convert the debentures. The funds advanced to the Company by the
Investors bore interest at rate of 12% per annum. Pursuant to the agreement, the conversion of the capital portion of the
debenture will be done at a price of $ 0.25 per share. The accrued
interest calculated until September 30, 2012 shall also be converted at
a price of $ 0.25 per share. The accrued interest between September 30,
2012 and December 13, 2013 shall be converted at a price of $0.81. The
conversion shall entitle the Investors to receive one common share
purchase for each common share issued. The common share purchase
warrants have an exercise price of $0.30 and are exercisable thirty
(30) days from the conversion of the debentures ("First Date") or if
exercised after the First Date, at an exercise price of $ 0.40 expiring
thirty days after the First Date. The capital and interest of the
debentures are as follows:
Pursuant to the conversion of the debentures, the Investors shall
receive the following number of common shares and common share purchase
About Hybrid PayTech World Inc. (HPT:CNSX) (FPOTF:OTC)
Hybrid PayTech World Inc. (CNSX: HPT) 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. Visit www.hybridpaytechworld.com
HybridPaytech based in Montreal, Canada, is a technology leader in the mobile payment space for EMV& MSR 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. For more information on Hybrid Paytech, please visit www.hybridpaytech.com or www.hybridpos.com
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.
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