Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

September 23, 2009 10:26 ET

Mint Issues Shares

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Mint Technology Corp. (TSX VENTURE:MIT) announced today that it has settled interest due under its shareholder loan agreements totaling $30,167 by the issuance of 270,128 common shares at deemed prices of $0.11 to $0.116 per common share.

The common shares issued today include 195,427 common shares issued to insiders of Mint. Pursuant to Multilateral Instrument 61-101 ("MI 61-101"), the participation of these insiders constitutes the share issuance a "related party transaction". Mint is exempt from the formal valuation requirement and shareholder approval requirement of MI 61-101, as described in more detail in the material change report to be filed in connection with this private placement. The filing of a material change report less than 21 days before the closing date of the private placement is necessary in order to complete the private placement in a timely manner.

The common shares are subject to a four month hold period which expires on January 16, 2010. Following completion of the share issuance, there are approximately 50,293,282 issued and outstanding common shares of Mint.

Mint also announced that it has completed the issuance of an additional $40,000 of convertible debentures. The debentures are unsecured and bear interest at 13.25% per annum, payable semi-annually in advance. The debentures become due on March 31, 2011. The debentures are convertible into units at a conversion price of $0.12 per unit. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.16 on or before March 31, 2011. The securities issued in this private placement, and any securities issued upon exercise of the debentures, are subject to a hold period which expires on December 6, 2009 (as to $20,000 of debentures), December 15, 2009 (as to $10,000 of debentures) and January 18, 2010 (as to $10,000 of debentures). Mint issued 20,000 warrants, and paid a cash commission of $2,400, to a dealer in connection with these debentures. Each warrant entitles the dealer to purchase a unit, identical to the units issuable under the debentures, at any time on or before March 31, 2011 for an exercise price of $0.12.

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.

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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