Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

June 12, 2012 17:30 ET

Mint Announces Further Closing on Series V Debenture Series

TORONTO, ONTARIO--(Marketwire - June 12, 2012) -

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

Mint Technology Corp. ("Mint") (TSX VENTURE:MIT) announces the issuance of $200,000 of debt on May 14th and 15th, 2012, through a private placement of secured interest bearing debentures (the "Debenture(s)") which was conditionally approved by the Toronto Venture Exchange on April 26, 2012, for a maximum issue of $4,500,000, known as Series 5. This brings the total amount of Debentures issued under this series to $2,700,000. This was the last and final closing in this series.

Funds will be used for the purposes of the microcredit loan book to be originated and serviced by Mint Money LLC in the UAE under a pilot program in advance of the long term structured credit facility of $50,000,000 as announced on December 29, 2011. Details of this will be provided upon completion of due diligence.

The investment announced today was made through Union Securities Ltd. A 5% agent fee was paid to Union Securities Ltd. The Debenture interest rate is 12% payable quarterly in arrears together with 1.4 bonus shares of Mint for every CAD$1.00 of Debenture issued. The Debentures are due and payable on May 8, 2014. The debentures and common shares announced on May 11, 2012, are subject to a hold period expiring on September 9, 2012. $100,000 of the debentures and common shares announced today are subject to a hold period expiring on September 15, 2012. The remaining $100,000 of debentures and commons shares that were issued are subject to a hold period expiring September 17, 2012. Mint may prepay all or any part of the principal outstanding at any time, without notice or bonus. Each Debenture will be secured against all of Mint's undertakings and business and all of its property and assets, both present and future by a General Security Agreement ("GSA"). The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended.

Mint would also like to announce that on February 15, 2012, it was announced that the Corporation issued 5,800,000 stock options to employees, officers and directors of the Company. This total was incorrect and should have been 6,000,000.

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 8 offices in UAE (3), 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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