The Mint Corporation
TSX VENTURE : MIT

The Mint Corporation

October 07, 2013 11:41 ET

Mint Announces Director Resignation

TORONTO, ONTARIO--(Marketwired - Oct. 7, 2013) -

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The Mint Corporation (TSX VENTURE:MIT) ("Mint") announced that on Thursday, September 26th, Michael Pesner resigned as a director of Mint and all of its subsidiaries for which he was a director. Mr. Pesner has been a director of Mint since 2008.

Nabil Bader, Interim Executive Chairman and CEO said today, "On behalf of the Mint team and its shareholders, I would like to thank Michael for his support over the last 5 years. He has been an active participant in all Board discussions and decisions and we have valued his input."

The Board is currently in discussions regarding Mr. Pesner's replacement but no decisions have been made at this time.

GENERAL DISCLOSURE STATEMENT

Investors are encouraged to read the Management Discussion and Analysis Documents filed on SEDAR for a full description of all the risks associated with investing in The Mint Corporation. The following statement is only intended to inform investors on certain of the many risks associated with investing in The Mint Corporation (the "Company"). The Company operates predominantly in the Middle East and North Africa ("MENA"). It is accordingly exposed to significant political, legal and regulatory risks associated with operating in these emerging and volatile markets. The key management personnel and operations of the Company are based in countries which do not have strong and reliable judicial enforcement. This results directly 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 high-cost, 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 considering to invest 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 MINT TECHNOLOGY CORP

Established in 2004, Mint is the world's first vertically integrated prepaid card and payroll services provider with its own ATM network, payment processing platform and proprietary branded card product delivered to workers in the United Arab Emirates and expanding to other parts of the Middle East. Mint operates through 4 subsidiaries, Mint Middle East LLC, a payroll card services provider; Mint Capital LLC, a financial products distribution company; Mint Global Processing Inc., a fully integrated third party processing platform; and MEPS, a mobile airtime POS and Merchant network solutions business. Mint has 98 employees in 8 offices in UAE (3), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the TSX Venture Exchange: MIT.

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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