This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hybrid Paytech World Inc. (CNSX: HPT) (OTC: FPOTF) Obtains Authorization From The Regulators For The Conversion Of Debentures Held By The McMaster Group

Stocks in this article: HPT

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:

  • Pierre McMaster : $ 525,015.00 (capital) and $ 157,152 (interest) for a total of $682,157;
  • 9136-2574 Qc. Inc.( Antoine Clermont): $ 887,944.15 (capital) and $231,881 (int.) for a total of $1,119,825
  • Amen Création Inc.: $200,000.00 (capital) and $ 63,271 (interest) for a total of $263,271;
  • Stéphane Tremblay : $75,000.00 (capital) and $ 24,924 (interest) for a total of $99,924;

Pursuant to the conversion of the debentures, the Investors shall receive the following number of common shares and common share purchase warrants:

  • Pierre McMaster : 2,519,120 common shares and 2,519,120 common share purchase warrants;
  • 9136-2574 Qc. Inc. ( Antoine Clermont) : 4,124,894 common shares and 4,124,894 common share purchase warrants;
  • Amen Création Inc. : 973,259 common shares and 973,259 common share purchase warrants;
  • Stéphane Tremblay: 369,760 common shares and 369,760 common share purchase warrants;

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.

SOURCE Hybrid PayTech World Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.02 -0.13 -0.00%
S&P 500 2,064.05 +2.82 0.14%
NASDAQ 4,755.2730 +6.8770 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs