Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

February 14, 2012 16:16 ET

Mint Announces Further Debenture Closings

TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) -

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 over the past three months it has completed the issuance of 2,050,000 Debenture Units for gross proceeds of CDN$1,830,000 and USD$220,000. Each unit consisted of $1.00 principal amount of secured debentures and two common shares. These were part of a series of rolling closings of the Debenture financing announced on October 24, 2011. The securities issued in connection with the debentures are subject to hold periods expiring on March 15, 2012 (as to $350,000 of debentures and common shares), March 23, 2012 (as to $200,000 of debentures and common shares), April 10, 2012 (as to $100,000 of debentures and common shares), April 14, 2012 (as to $330,000 of debentures and common shares), April 22, 2012 (as to $200,000 of debentures and common shares), May 7, 2012 (as to $200,000 of debentures and common shares), May 28, 2012 (as to $100,000 of debentures and common shares), June 9, 2012 (as to $220,000 of debentures and common shares) and June 11, 2012 (as to $350,000 of debentures and common shares). The final investment of $350,000 was made through various funds sub-advised by Portland Investment Counsel Inc. ("Portland") (Executive Chairman, Chief Executive Officer and Chief Investment Officer, Michael Lee-Chin). Based on common shares, this brings Portland's non-diluted holdings in Mint to 11.2%.

The Debenture interest rate is 12% payable quarterly in arrears. 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.

Mint paid the following in dealer commissions in connection with the above referenced closings (i) $117,750 of cash commissions and (ii) non-transferable warrants to purchase 117,750 debenture units on or before October 24, 2013 at an exercise price of $1.00 each (each unit consisting of 2 common shares and $1.00 of secured debenture due two years following issuance and bearing interest at 12% per annum).

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

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 6 offices in UAE, Qatar, Jordan, USA and Canada where Mint is listed on the Toronto Stock Exchange (TSX VENTURE:MIT). Mint is soon to open a full service office in Egypt.

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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