Company sells 10% unsecured debenture due Dec. 31, 2015 through deal
By Devika Patel
Knoxville, Tenn., Oct. 30 – Hybrid Paytech World Inc. said it plans a C$3 million private placement of a 10% unsecured convertible debenture.
The debenture matures on Dec. 31, 2015 and converts to common stock at a conversion price of C$0.35 per share. The conversion price is a 337.5% premium to C$0.08, the Oct. 29 closing share price.
The company also said it has completed the first tranche of a C$1 million private placement.
The mobile payment technology company is based in Montreal.
| Issuer: | Hybrid Paytech World Inc.
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| Issue: | Unsecured convertible debenture
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| Amount: | C$3 million
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| Maturity: | Dec. 31, 2015
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| Coupon: | 10%
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| Conversion price: | C$0.35
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| Conversion premium: | 337.5%
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| Warrants: | No
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| Pricing date: | Oct. 30
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| Stock symbol: | CNSX: HMT
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| Stock price: | C$0.08 at close Oct. 29
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