The Mint Corporation
TSX VENTURE : MIT

The Mint Corporation

January 20, 2016 16:17 ET

Mint Amends Its Series A Debentures and Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - Jan. 20, 2016) -

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

The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") announces that it has obtained approval from the holders of its Series A debentures (the "Debentures") to the amendments to those Debentures which were described in the Company's news release of January 4, 2016.

Prior to the amendments, the Debentures had a par value of $1,103.81 each (being the original issue price of $1000 per Debenture plus the first year's interest on each Debenture which was capitalized). As a result of the amendments, the Company will issue $4,238,462 of Debentures (the "Capitalized Interest Debentures") to the Debenture holders, representing the capitalized interest, thereby reducing the principal amount represented by each Debenture to $1000. This issuance of Debentures does not increase the principal amount of the Debentures outstanding.

The Company agreed to pay a restructuring fee to the holders of the Debentures upon approval of the amendments to the Debentures. The Company will issue $3,953,506 of Debentures as the restructuring fee, thereby increasing the principal amount of the outstanding Debentures to $49,019,968.

The amendments to the Debentures take effect as of January 8, 2016 (the "Amendment Effective Date"). The Amendment Effective Date is also the record date for purposes of determining holders of Debentures entitled to receive Capitalized Interest Debentures and the restructuring fee. Mint will repurchase any fractional debentures received by a Debenture holder as either a Capitalized Interest Debenture or as the restructuring fee.

Mint is also pleased to announce that Mint Middle East LLC (MME) (a company 51% owned by Mint) has successfully migrated its card portfolio bank identification number (BIN) to Abu Dhabi Islamic Bank, a leading financial institution in the United Arab Emirates. This represents another significant milestone for MME to further enhance its product offering in the market place.

General Disclosure Statement

Investors are encouraged to read the Management Discussion and Analysis Documents filed on SEDAR for a description of additional risks associated with investing in the Company. The following statement is only intended to inform investors on certain of the many risks associated with investing in the Company. The Company operates predominantly in the Middle East. It is exposed to significant political, legal and regulatory risks associated with operating in this emerging and volatile market. The key management personnel and operations of the Company are based in countries which do not have strong and reliable judicial enforcement. This results in additional risk with respect to the enforcement of legal and contractual rights, including, for example but without limitation, the enforcement of the rights of creditors, the protection of intellectual property rights, the enforcement of joint venture arrangements, and binding key employees with non-compete agreements. Since inception, the Company has not reached profitability. The Company relies heavily on debt financing to fund its business plan. This has exposed the Company to unique financial risks associated with significantly higher than normal debt levels. Investors in the company are strongly encouraged to be aware of the significant risks of the Company, to conduct additional due diligence and to seek the help of a licensed investment advisor before investing in securities of the Company. Moreover, investors must be aware that the purchase of the Company's securities involves a number of additional significant risks and uncertainties, as disclosed in the Management Discussion and Analysis reports filed on SEDAR by the Company. Investors considering purchasing securities of the Company should be able to bear the economic risk of total loss of such investment.

About The Mint Corporation

Established in 2004, Mint is a vertically integrated prepaid card and payroll services provider with its own processing platform, ATM network and proprietary branded card products delivered to workers in the United Arab Emirates. Mint operates as a payroll card and processing services provider in the UAE through its ownership in Mint Middle East LLC and Mint Gateway for Electronic Payment Services LLC.

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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