Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

November 09, 2010 12:30 ET

Mint Amends and Converts Certain Debentures

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2010) -

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

On July 21, 2010, Mint Technology Corp. (TSX VENTURE:MIT) announced by press release that it was applying to the TSX Venture Exchange to reduce the conversion price of $418,000 of convertible debentures issued in 2009. The debentures were convertible into units (the "conversion units") consisting of one common share and one common share purchase warrant. 

TSX Venture Exchange approval has been received and the debentures and warrants have been amended as set out in the press release. Debentures totaling $378,000 have been converted, resulting in the issuance of 3,780,000 common shares and warrants. The remaining $40,000 of debentures will be extended for repayment or conversion until December 31, 2011. Mint has paid Panfin Equicap Ltd. a 6% cash commission in respect of the debentures converted.

Mint has also paid $13,117.50 of interest on the debentures by issuing 131,175 conversion units at a price of $0.10 each. 

The common shares and warrants forming part of the conversion units are subject to a 4 month hold period expiring on March 3, 2011.

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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