Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

August 06, 2009 15:01 ET

Mint Announces Completion of Due Diligence for UAE Acquisition and Clarifies Global Bank Contract

TORONTO, ONTARIO and DUBAI, UNITED ARAB EMIRATES--(Marketwire - Aug. 6, 2009) - Mint Technology Corp. ("Mint" or the "Company") (TSX VENTURE:MIT) today announced that due diligence is complete on the acquisition of Waseela Equity LLC in Dubai, UAE and that there are no material changes proposed to the transaction announced on July 30. A binding agreement is to be executed in the next 21 days and a financial close is planned for August 31.

Mint also wishes to confirm that the global bank referred to in its announcement on July 30 is Standard Chartered Bank EMEA who has entered into an agreement with Waseela Equity to handle payroll card customers in line with the recent government announcement to introduce a new wages payment system for foreign workers in the United Arab Emirates.

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.

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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