Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

November 07, 2011 11:28 ET

Mint Announces Further Debenture Closing

TORONTO, ONTARIO--(Marketwire - Nov. 7, 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$2,000,000 of debt through a private placement of secured debentures (the "Debenture(s)") through various funds sub-advised by Portland Investment Counsel Inc. ("Portand") (Executive Chairman and CEO Michael Lee-Chin). This is the second of a series of rolling closings of the Debenture financing announced on October 24, 2011.

Executive Chairman, Chris Hogg said today, "We are pleased to see the support of our current shareholders of this recent debenture issue. It shows a strong belief in the direction Mint is taking and an on-going commitment to Mint's success."

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 March 6, 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 PORTLAND INVESTMENT COUNSEL

Portland has a unique history dating back to 1986 of being Owners, Operators and Investors in diverse businesses globally. Its unique "hands on" operational experience in businesses across various sectors, allows it to thoroughly understand the businesses in which it invests. Portland invests in publicly traded equities and fixed income securities globally on behalf of retail and institutional clients.

Portland is a subsidiary of Portland Holdings Inc., a privately held investment company that manages public and private equity and has a direct ownership interest in a collection of diversified businesses operating in sectors that include telecommunications, financial services, banking, media, tourism, health care and waste management. Its investments include Portland Investment Counsel, National Commercial Bank Jamaica Limited, Columbus International Inc and Portland Private Equity; which advises government investment agencies and multi nationals.

Portland Holdings is committed to "Building Strong Indigenous Businesses." Equally important, these businesses must also seek to improve the social well-being of the communities in which they operate. Michael Lee-Chin formally established as the Portland mantra the phrase "prosperitas cum caritate", which in Latin speaks to his goal that business must "not only do well, but also do good" – that is the measure of success.

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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