Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

January 26, 2011 14:41 ET

Mint Announces Debenture Closing

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2011) -

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

Mint Technology Corp. (TSX VENTURE:MIT) announced that it has completed today the issuance of US$1,335,000 of debt through a private placement of secured debentures (the "Debentures"). This is the first of a series of rolling closings of the US$1,500,000 financing announced on December 16, 2010 and based upon commitments to date Mint expects that the Maximum Subscription limit of $1,700,000 will be necessary to satisfy demand and further closings are anticipated over the next 14 days.

The use of the proceeds will discharge all of Mint's short term debt and payment of various creditors arising from deconstruction of its Canadian operations to focus on its business in the Middle East.

The Debenture interest rate is 12% payable quarterly in arrears. Investors received two bonus common shares of Mint for every $1.00 of Debenture issued. The Debentures are due and payable on January 25, 2013. Mint may prepay all or any part of the principal outstanding at any time, without notice or bonus. The shares and debentures are subject to a hold period expiring on May 26, 2011.

Mint has agreed to pay a cash commission equal to 7% of the placement completed today. Mint has also agreed to issue broker warrants which entitled a dealer to purchase Debentures equal to 7% of the placement together with 2 bonus common shares for every $1.00 of Debenture purchased. The warrants are exercisable within 3 years of the closing.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended.

ABOUT MINT TECHNOLOGY CORP

Mint Technology Corp. is a pioneer in prepaid financial products and services and was Canada's first provider of prepaid credit card programs. Today, Mint through its Subsidiary Mint Middle East LLC based in Dubai designs, builds and manages an end to end card based payments solution for employers and employees for the payment of wages and benefits. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage these 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 money remittance technologies.

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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