Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

August 09, 2013 15:38 ET

Mint Announces Name Change and Share Consolidation

TORONTO, ONTARIO--(Marketwired - Aug. 9, 2013) - Mint Technology Corp. (TSX VENTURE:MIT) ("Mint" or "Company") is pleased to announce that, effective August 12, 2013, the Company's name will change to "The Mint Corporation", with the Company's common shares (the "Common Shares") and debentures continuing to trade on the TSX Venture Exchange and CNSX, respectively, under the existing symbols.

In addition, effective August 12, 2013 the Common Shares of the Company will be consolidated such that one (1) new Common Share will be issued for every ten (10) Common Shares outstanding. There are currently 268,105,977 Common Shares outstanding, and, effective post-consolidation there will be 26,810,597 Common Shares issued and outstanding.

The shareholders of the Company approved the name change and share consolidation at the annual and special meeting of the Company held on June 27, 2013 (the "Shareholders Meeting"). Letters of transmittal with respect to the consolidation were sent to shareholders of the Company with the management information circular dated June 3, 2013 (the "Information Circular") in respect of the Shareholders Meeting. Copies of the letter of transmittal may be obtained from Computershare Investor Services Inc., the registrar and transfer agent of the Company, by mail at P.O. Box 7021, 31 Adelaide St E, Toronto, ON M5C 3H2, Attn: Corporate Actions, or by registered mail, hand or courier at 100 University Avenue, 8th Floor, North Tower, Toronto, ON M5J 2Y1, Attn: Corporate Actions. Any questions should be directed to Computershare Investor Services Inc. at 1-800-564-6253 or by e-mail to corporateactions@computershare.com.

Further details regarding the name change and share consolidation are contained in the Information Circular, which has been filed on SEDAR at www.sedar.com.

GENERAL DISCLOSURE STATEMENT

Investors are encouraged to read the Management Discussion and Analysis Documents filed on SEDAR for a full description of all the risks associated with investing in Mint Technology Corp. The following statement is only intended to inform investors on certain of the many risks associated with investing in Mint Technology Corp. Mint Technology Corp (the "Company") operates predominantly in the Middle East and North Africa ("MENA"). It is accordingly exposed to significant political, legal and regulatory risks associated with operating in these emerging and volatile markets. The key management personnel and operations of the Company are based in countries which do not have strong and reliable judicial enforcement. This results directly in additional risk with respect to the enforcement of legal and contractual rights, including, for example but without limitation, the enforcement of the rights of creditors, the protection of intellectual property rights, the enforcement of joint venture arrangements, and binding key employees with non-compete agreements. Since inception, the Company has not reached profitability. The Company relies heavily on high-cost, debt financing to fund its business plan. This has exposed the Company to unique financial risks associated with significantly higher than normal debt levels. Investors in the company are strongly encouraged to be aware of the significant risks of the company, to conduct additional due diligence and to seek the help of a licensed investment advisor before considering to invest in securities of the Company. Moreover, investors must be aware that the purchase of the Company's securities involves a number of additional significant risks and uncertainties, as disclosed in the Management Discussion and Analysis reports filed on SEDAR by the Company. Investors considering purchasing securities of the Company should be able to bear the economic risk of total loss of such investment.

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 delivered to workers in the United Arab Emirates and expanding to other parts of the Middle East. Mint operates through 4 subsidiaries, Mint Middle East LLC, a payroll card services provider; Mint Capital LLC, a financial products distribution company; Mint Global Processing Inc., a fully integrated third party processing platform; and MEPS, a mobile airtime POS and Merchant network solutions business. Mint has 98 employees in 8 offices in UAE (3), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the TSX Venture Exchange: MIT.

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.

For additional information please visit www.mintinc.com.

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