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Last updated on April 23, 2014 at 21:24 EDT

Freeport Capital Inc. (CNSX: FAS) Closes First Tranche of the Transaction to Acquire 100% ownership of SOLUTIONS MOBI724 INC. A Mobile Couponing Solution Deploying In Buenos Aires, Argentina

July 19, 2013

MONTREAL, July 19, 2013 /PRNewswire/ – Freeport Capital Inc. (the
“Company”) a leader on Mobile Credit and PIN Debit payment solutions,
announces the following:

The Company has completed the first phase of the acquisition of
Solutions Mobi724 Inc.  (“Mobi”) The first phase entailed the transfer
of 51% of all of the issued and outstanding shares of Mobi on a fully
diluted basis by the issuance of 1,000,000 common shares of the Company
to Mobi shareholders at the maximum allowable discounted price of $1.23
per share.  Pursuant to the terms of the transaction, the Company shall
purchase the remaining 49% of the Mobi shares within twelve (12) months
which purchase shall be effected by issuing common shares of the
Company at market value less the maximum allowable discount and at a
floor price of $1.23. The Founder, Massimo Barone stated “this
acquisition will allow Hybrid to integrate and cross sell the services
to Banks, Telco’s, Port and Mass Rapid Transit Authorities requiring a
collection, coupon and cash redemption mobile enabled solution easily
configurable with their Payment Switch.”

About Mobi724 Solutions Inc.  (www.mobi724.com)

Mobi724′s PAY PER PERFORMANCE MODEL addresses the significant need for
accountability in the marketing space. Our solutions, including our
universal “mobile Digital Incentives Gateway” (coupons, gift-cards and
rewards) enables retailers, manufacturers of consumer-packaged goods,
loyalty providers, mobile operators and payment card issuers to create,
manage and deliver incentives to their customers base on ANY mobile
device worldwide. Users are able to redeem offers at ANY Point of Sale
or online, in a seamless transaction process that provides instant
gratification for both the customer and the retailer. We focus on
mobile carriers, loyalty operators, payment card portfolios and large
retailers to enhance their offering with our end to end solution. We
have partnered with several international brands to operate our white
label offering.

About Hybrid Paytech

A subsidiary of Freeport Capital Inc. (CNSX: FAS) based in Montreal,
Canada, with satellite offices in the USA, Dominican Republic,
Philippines and Hong Kong – Hybrid Paytech is a technology leader in
the mobile payment space with its proprietary Hybrid Multi-OS App’s
allowing use with MSR and EMV 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 for “on the go” fleet, delivery, logistics and retail
merchants. Argentina as well as bring together an integrated mobile
coupon solution currently being launched in Buenos Aires.”

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.


Source: PR Newswire