Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

October 31, 2011 15:44 ET

Mint Announces Debenture Closing

TORONTO, ONTARIO--(Marketwire - Oct. 31, 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$950,000 of debt through a private placement of secured debentures (the "Debenture(s)"). This is the first of a series of rolling closings of the Debenture financing announced on October 24, 2011.

Based upon commitments received to date, Mint expects the USD$2,000,000 of private placements to certain "accredited" investors known to Mint to be exceeded and will be a larger proportion of the combined US$5,000,000 than originally anticipated. Further closings are anticipated over the next 14 days.

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 October 24, 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 February 26, 2012.

This is a non-brokered private placement to certain "accredited" investors known to Mint and therefore, no fees have been paid to an agent in regards to this issuance.

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.

For additional information please visit www.mintinc.com.

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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