Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

January 20, 2012 17:00 ET

Mint Announces Private Placement With Carta Worldwide

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2012) -

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

Mint Technology Corp. (TSX VENTURE:MIT) ("Mint" or "Company") today announces that the TSX Venture Exchange has approved the restructuring of the private placement previously announced in its press release dated November 17, 2011, into a conversion of outstanding debt of Cdn$542,191.79 and US$226,600.34 (collectively, the "Debt") into 6,150,337 common shares ("Common Shares") and 4,337,534 Common Share purchase warrants ("Warrants") of Mint.

The Cdn$542,191.79 was owing to Carta Worldwide Inc. ("Carta Worldwide") and was in respect of a secured debenture, dated October 27, 2010, payable to Carta Worldwide. The US$226,600.34 was owing to Carta Solutions Processing Services Corp. ("CSPSC", and collectively with Carta Worldwide, the "Carta Group") and was in respect of amounts owing to CSPSC pursuant to the terms of two transaction services agreements between CSPSC and Mint.

Mint issued 4,337,534 Common Shares and 4,337,534 Warrants to Carta Worldwide and 1,812,803 Common Shares to CSPSC, all effective today, and, as a result, the Debt has been extinguished effective August 13, 2011 as agreed to by the parties. The Warrants are exercisable at $0.15 on or before January 20, 2014. The Common Shares and Warrants issued to the Carta Group are subject to a four month and one day hold period in accordance with applicable Canadian securities laws.

This Debt conversion brings the Carta Group's shareholding in Mint to 13,350,037 Common Shares, or 7.5% on an undiluted basis.

Mint Executive Chairman, Chris Hogg, said today, "Our relationship with Carta has continued to strengthen over time and now with the partnership to form Mint Global Processing, we look forward to beginning our third-party transaction processing activities early in the New Year throughout the Middle East and North Africa."

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 regulatory approval and Toronto Stock Exchange approval. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results 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, they should not be read as guarantees of future performance or results, and they will not necessarily be 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 not receiving regulatory or TSX Venture Exchange approval. 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 news 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. The forward-looking statements contained in this press release are made as of the date hereof and Mint disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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.

Stock Symbol: MIT on the TSX Venture Exchange.

For additional information please visit www.mintinc.com or contact: Mint Technology Corp.

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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