MONTREAL, Aug. 16, 2012 /CNW Telbec/ – President Mr. Michele Tasillo
stated “We are pleased to enter into this Letter of Intent to acquire
51% of TekTango LLc and the future addition of its CEO Russell Palermo
to our team. Our goal with this acquisition is to build a successful
product suite and brand to expand into global markets strengthening the
position of Hybrid PayTech. Our commitment to being a leader in the
Mobile Payment Industry and strategic acquisitions further enhance our
ability to meet our customers needs and demands. This complimentary
value add to the existing Hybrid mobile app’s Hybrid-CC 2.5, Hybrid
-Pin 2.5 multi -deck OS’s creates a product suite currently unavailable
by any other payment company in the market.

Under the terms of the deal Freeport Capital Inc.(FAS:CNSX) would
acquire 51% of TekTango LLC for $600k USD paid in capital stock of
600,000 common class A newly issued shares at a reserved price of $1.00
per share. In addition Freeport Capital Inc. would also have the right
to acquire the additional 49% of the outstanding shares for $1,000,000
value for 1,000,000 shares at a price reserve of $1.00 per share within
the next 12 months.”

Russell Palermo, CEO of TekTango comments “With thousands of free
downloads every month, both merchants and their service providers have
discovered the power and simplicity of iPayPOS. Our products have held
a unique distinction as a highly adaptable mobile payment solution
currently in use by thousands of merchants globally and preferred
product for hundreds of their service providers. Freeport Capital
has always recognized the value of our open approach and
strategic advantage among service providers and shares our vision to
focus on and serve this channel with leading-edge mobile payment
technology. The experience and resources Freeport is preparing to
offer TekTango can quickly move iPayPOS from the market’s best kept
secret to a well-known and competitive alternative to Square, VeriFone,
and Intuit.”

About TekTango LLc

TekTango’s flagship product iPayPOS is a pioneer in iOS payment
technology and has quietly established a solid reputation among
ISO`s(Independent Sales Organizations) and their merchants as a
complete and highly adaptable mobile payment app. iPayPOS currently
supports 7 card reader / printer options and over 30 payment gateways
including Authorize.net and PayPal. Any merchant with a payment
gateway supported by iPayPOS can download the app and literally be
processing mobile payments in minutes. As ISO’s struggle to find an
effective mobile payment solution to meet increasing merchant demand,
TekTango has been an ideal partner and iPayPOS an ideal product without
requiring volume commitments, long-term contracts and transition to
restrictive proprietary systems.

TekTango LLC (a privately-held Florida based LLC) develops, markets and
supports iPayPOS, a highly adaptable mobile payment technology designed
for Apple iOS products (iPhone, iPod and iPad v.3.0 and higher) used by
thousands of merchants globally.

www.tektango.com

About Freeport Capital Inc.

First Equity Strategy LLC (DBA; Hybrid Paytech is a wholly owned
subsidiary of Freeport Capital Inc. Based in Montreal, Canada; Hybrid
Paytech is a technology leader in the mobile payment space for EMV,
Credit and Pin Debit acceptance offering an ERP (Enterprise Ready
Platform) enabling Processors & Acquirers with quick merchant adoption
solutions. With a global footprint, Hybrid Paytech is an enabler of
easily deployable payment systems for Smartphones, Tablets & PDA’s
focusing on Encryption & Authentication. ”

For further information on Hybrid PayTech, please visit www.hybridpaytech.com and click on our corporate video presentation http://www.youtube.com/watch?v=XvZHrck2eag&feature=youtu.be

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.