Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

September 02, 2010 10:00 ET

Mint Announces Investment Agreement Signed and Closed With Noor Telecom

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2010) -

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

Mint Technology Corp. (TSX VENTURE:MIT) (Corporation) announced today that it has signed and exchanged a Definitive Agreement, the Membership Interest Subscription and Stock Purchase Agreement with Noor Telecom Company, KSCC, a Kuwait based company managed by Noor Financial Investment Company (Noortel) for the subscription of US$3,000,000 in Convertible Preferred Membership Interests in Mint's subsidiary Mint Middle East LLC.

The Agreement provides for subscription of funds over a 6 month period to support the Company's working capital and capital expenditure requirements in United Arab Emirates and Saudi Arabia. The further terms and conditions of the financing are as per the Term Sheet signed and announced in April 2010.

Mint CEO, Mr. Chris Hogg said today, "This is another milestone in the expansion of Mint's prepaid and payroll card business in the Emerging Markets at a time when the business has turned cash positive with securing not only expansion capital but also a valuable partnership with one of the Middle East's most respected financial investment companies.

ABOUT NOOR TELECOM

Noortel is a Kuwait-based closed-shareholding company created in 2007. Noor Telecom is managed by Noor Financial Investment Company, a Kuwaiti company, engaged in investment activities and financial services primarily in Kuwait, the Middle East, Asia, and other emerging markets with assets in excess of US$1Billion. Noor provides a broad range of financial services, which include advisory services, underwriting, syndication and asset management.

ABOUT MINT TECHNOLOGY CORP

Mint Technology Corp. is a pioneer in prepaid financial products and services and is Canada's first provider of prepaid credit card programs. As a MasterCard® Member Service Provider, Mint works with business partners to customize prepaid credit card programs that are tailored to meet a company and its card holder's needs. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage 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 remittance technologies. Mint's prepaid card products include general spend for the underserved, youth and employee payroll. Stock Symbol: MIT on the TSX Venture Exchange.

Forward-looking Statements.

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward-looking statements include the forecast concerning increases in revenue and improving EBITDA performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily by accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, delays in rolling out card programs, the ability of Mint to obtain financing and terms of any financing, the possibility of technical, logistical or planning issues in connection with deployment of Mint's products and solutions, the demand for Mint's products failing to occur, and other factors discussed in Mint's MD&A filed on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this new release, Mint cannot assure investors that actual results will be consistent with these forward looking statements. These forward-looking statements are made as of the date of this news release.

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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