Mint Technology Corp.
TSX VENTURE : MIT
PINKSHEETS : MITJF

Mint Technology Corp.

April 18, 2012 15:55 ET

Mint Announces Secured Debenture Issue to Raise Up to $4,500,000 to Launch Mint Money's Micro Credit Program

TORONTO, ONTARIO--(Marketwire - April 18, 2012) -

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

Mint Technology Corp. (TSX VENTURE:MIT)(PINKSHEETS:MITJF) ("Mint" or "Company") announced today it is planning, subject to approval from the TSX Venture Exchange, the issuance of up to $4,500,000 of debt through a private placement of secured interest bearing debentures (the "Debenture").

A $2,500,000 investment commitment has already been received from various funds sub-advised by Portland Investment Counsel Inc. ("Portland") (Executive Chairman, Chief Executive Officer and Chief Investment Officer, Michael Lee-Chin, Portland's largest shareholder). The remaining $2,000,000 investment is being offered to other Institutions. There will be a 5% cash commission paid to agents involved in the transactions.

The Debenture interest rate is 12% payable quarterly in arrears. Subscribers will also receive 1.4 bonus shares of Mint for every $1.00 of Debenture issued. The Debentures are due and payable on April 27, 2014. Mint may prepay all or any part of the principal outstanding at any time, without notice or bonus. There will be one or more closings occurring in regards to this issuance with the first closing expected on April 27, 2012. Each Debenture will be secured against Mint's assets.

Proceeds of the private placement will be used to provide seed funding to launch the Mint Money micro credit program to holders of Mint's payroll cards in the United Arab Emirates. Mint is in discussions concerning a larger funding for future expansion of this program.

Chris Hogg, Executive Chairman of Mint, said today, "Once again, our major shareholders have stepped up and shown their support for the execution of Mint's business plan. We are grateful to have such strong supporters and are pleased to be able to offer the Debenture as a way to keep these supporters directly linked to the successes of Mint."

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 of this private placement and any future expansion or funding of the Mint Money micro credit program. 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 and delays or inability to obtain future financing for the micro credit program. 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 7 offices in UAE (2), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the Toronto Stock Exchange (TSX VENTURE:MIT).

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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