Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

November 11, 2009 15:10 ET

Mint Announces Acquisition of Equity Interest in Loyalty Access Solutions and Financing of New Contract

TORONTO, ONTARIO--(Marketwire - Nov. 11, 2009) -

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Mint Technology Corp. ("Mint" or the "Company") (TSX VENTURE:MIT) today announced that it has executed a Share Purchase Agreement, Joint Venture Agreement and Credit Agreement with Loyalty Access Solutions Inc ("LAS"), to acquire 45% of the ordinary capital of LAS based upon a pre-money valuation of C$1,111,000. The share purchase consideration is payable over 3 years commencing on December 31, 2009.

In addition, Mint has entered into a Joint Venture Agreement and Credit Agreement with LAS to provide working capital of up to $400,000, sales and marketing support, financial management reporting and a US office presence to allow LAS to deliver its recently executed agreement with National PTA (Parent Teacher Association) in the United States. Mint will receive interest on its working capital contribution and a share of the fees generated by LAS on cards issued using that working capital.

LAS has an exclusive agreement to supply a shopping discount rewards card to all local PTA units with a fundraising product providing cardholders with discounts at over 250,000 retailers throughout the USA. PTA currently has over 5 million members.

Mr. Chris Hogg, President and CEO of Mint commented, "This investment provides us with a significant platform in the USA from which to launch a general purpose prepaid card while at the same time generating new revenues for Mint from our profit share and equity interest in LAS and its agreement with National PTA. LAS expects to sell 350,000 cards in its first year with National PTA. The completion of the transaction is a further contribution to the global growth of Mint's business and revenue streams."

Glocap Management Inc., a corporation controlled by Chris Hogg (the CEO and a director of Mint), has agreed to provide up to $200,000 (50%) of the funds required by Mint to complete the working capital advance. In return, Glocap will receive 50% of the interest earned by Mint on its working capital contribution to LAS plus 1/6th of the profit share received by Mint and 1/6th of the ordinary shares purchased by Mint in LAS. The decision to obtain financing through Glocap is recent, as is the finalization of the terms of the LAS transaction. For these reasons, Mint has issued this press release, and will be filing a related material change report, less than the 21 days prior to closing.

ABOUT LOYALTY ACCESS SOLUTIONS:

LAS specializes in providing end-to-end loyalty / reward programs focused on helping businesses maximize customer retention, increase customer acquisition and to unify core competencies across multiple channels. Specifically, LAS provides a very sophisticated software platform allowing for the dynamic awarding and instant redemption of custom designed consumer incentives. In addition, LAS provides a massive discount network, involving more than 250,000 retail locations, which LAS private-labels for its clients.

ABOUT MINT TECHNOLOGY CORP:

Mint Technology Corp. is a pioneer in prepaid financial products and services and is Canada's first provider of prepaid credit card programs. As a MasterCard® Member Service Provider, Mint works with business partners to customize prepaid credit card programs that are tailored to meet a company and its card holder's needs. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage financial transactions. Mint also provides services for those clients looking to move towards 'next generation' payment methods that include chip, internet, data mining and mobile phone load and remittance technologies. Mint's prepaid card products include general spend for the underserved, youth and employee payroll. Stock Symbol: MIT on the TSX Venture Exchange.

Forward-looking Statements.

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mint, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, delays in rolling out card programs, the ability of Mint to obtain financing and the terms of any financing, the possibility of technical, logistical or planning issues in connection with deployment of Mint's products and solutions, demand for Mint's products, and other factors discussed in Mint's MD&A filed on SEDAR. Although the forward- looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this new release, Mint cannot assure investors that actual results will be consistent with these forward looking statements. These forward-looking statements are made as of the date of this news release, and unless otherwise stated Mint assumes no obligation to update or revise them to reflect new events or circumstances.

For additional information please visit www.mintinc.com.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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