Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

July 10, 2009 12:29 ET

Mint Technology Announces Private Placement

TORONTO, ONTARIO--(Marketwire - July 10, 2009) -

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Mint Technology Corp. (TSX VENTURE:MIT) today announced that it is seeking to raise $1.5 million of gross proceeds through the non-brokered private placement of units at $0.125 each. Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will be exercisable for one common share upon payment of $0.15 and exercise of the warrant on or before August 31, 2011. The Company has received a subscription agreement in the amount of $500,000 from Credit Guarantee Corporation Limited, a retail financial services company based in Dublin, Ireland and is expected to close on or before July 15, 2009.

Proceeds from the private placement will be used for working capital purposes, for the Company's ongoing expansion of its business in the UK following the recently announced contract with Something Corporation and its Issuing and Processing Agreement with Advanced Payment Systems, and for a proposed acquisition to complement our previously announced strategy of business expansion in the Middle East. The private placement is subject to regulatory approval and is expected to close before August 31, 2009.

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.

To receive Company news via email, contact lindsay@chfir.com and mention "Mint news" on the subject line.

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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