Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

April 02, 2012 10:57 ET

Mint Announces Directors Change in Ownership of Common Shares

TORONTO, ONTARIO--(Marketwire - April 2, 2012) -

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

Mint Technology Corp. ("Mint" or the "Company") (TSX VENTURE:MIT) announced that Nabil Bader and Chris Hogg through Glocap Management Inc. ("Glocap"), a company controlled by Chris Hogg completed certain transactions which resulted in changes in their respective ownership in the common shares of Mint.

Effective March 21, 2012, Chris Hogg through Glocap acquired through a private transaction, an aggregate 8,700,242 common shares of Mint in range of CAD$0.12 - CAD$0.18 per common share. These purchases represent an additional 4.6% of the issued and outstanding common shares for each party. Effective March 21, 2012, Chris Hogg through Glocap sold through a private transaction, an aggregate 2,010,416 common shares of Mint in a range of CAD$0.12 - CAD$0.17 per common share.

Prior to March 21, 2012, Chris Hogg through Glocap had control or direction over 5,339,900 common shares of Mint, representing 2.8% of the outstanding common shares of Mint. Following the March 21, 2012 transactions referred to above, Chris Hogg through Glocap holds an aggregate 12,029,726 common shares of Mint, representing approximately 6.4% of the issued and outstanding common shares of Mint. On a partially diluted basis, which includes 2,475,000 incentive stock options held directly by Chris Hogg and 5,000,000 warrants for common shares of Mint, Chris Hogg controls approximately 10.4% of the common shares and securities exercisable into common shares Mint.

Effective March 21, 2012, Nabil Bader acquired through a private transaction, an aggregate 3,343,100 common shares of Mint in a range of CAD$0.12 - CAD$0.18 per common share. These purchases represent an additional 1.8% of the issues and outstanding shares. Effective March 21, 2012, Nabil Bader sold through a private transaction, an aggregate 7,367,559 common share s of Mint in a range of CAD$0.12 - CAD$0.18 per common share.

Prior to March 21, 2012, Nabil Bader had control or direction over 24,830,285 common shares of Mint, representing approximately 13.2% of the outstanding common shares of Mint. Following the March 21, 2012 transactions, Mr. Bader controls 20,805,826 common shares of Mint, representing 11% of the issued and outstanding common shares of Mint. On a partially diluted basis, which includes 1,650,000 incentive stock options and 14,216,000 for common shares of Mint, Mr. Bader controls approximately 19.5% of common shares and securities exercisable into common shares of Mint.

The above transactions occurred for investment purposes.

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 including microcredit, mobile top up and money remittance services delivered seamlessly to workers throughout the Middle East and North Africa region. Mint operates through 4 subsidiaries, Mint Middle East, a payroll card services provider, Mint Money, a financial products company, Mint Global Processing, a fully integrated third party processing platform and soon to launch, Mint Merchant Services, a POS and ATM network solutions business. Mint has 65 employees in 7 offices in UAE (2), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the Toronto Stock Exchange (TSX VENTURE:MIT).

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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