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Hybrid Paytech World Inc. (CNSX: HPT) (OTC: FPOTF) Converts The Debentures Held By The McMaster Group

MONTREAL, Jan. 21, 2014 /PRNewswire/ - Hybrid Paytech World Inc. (the "Company") a leader on Mobile Credit and PIN Debit payment solutions, announces the following:

Conversion of Debentures ("Debentures")

Further to the announcement of December 23, 2013 and to 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"), the Company announces that it has successfully converted the Debentures which capital and interest are as follows:

  • Pierre McMaster : $ 525,015.00 (capital) and $ 157,152 (interest) for a total of $ 682,157;
  • 9136-2574 Québec Inc.: ( Antoine Clermont): $ 887,944.15 (capital) and $231,881 (interest) 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;




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 was 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 was converted at a price of $0.81. The conversion entitled the Investors to receive one common share purchase warrant for each common share issued. The common share purchase warrants have an exercise price of $0.30 and are exercisable on or prior to February 9, 2014 ("First Date") or if exercised after the First Date, at an exercise price of $ 0.40 expiring thirty days after the First Date.

Pursuant to the conversion of the debentures, the Investors received 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 Québec 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;




Stock quotes in this article: HPT 

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