Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

July 06, 2010 17:15 ET

Mint Closes $560,000 Investment with Carta Solutions S.A. & Others and Signs Memorandum of Understanding and Processing Agreements with Carta Solutions Processing Services Corp

TORONTO, ONTARIO--(Marketwire - July 6, 2010) -

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Mint Technology Corp. (TSX VENTURE:MIT) announced today that the Corporation has agreed to an investment of $750,000 from Carta Solutions S.A. a leading payments processing company with interests in payments and prepaid cards in North America, UK and Latin America. The Corporation has agreed to close the investment in two parts, the first being an issue of 4,400,000 units at $0.125, each unit comprising one common share and one half warrant exercisable by April 30, 2012 with an exercise price of $0.15 which has closed today with a subscription of $550,000.

The second closing being an issue of 1,600,000 units at $0.125, each unit comprising one common share and one half warrant exercisable by April 30, 2012 with an exercise price of $0.15 with a subscription of $200,000 will take place on or before August 9, 2010.

Mint also closed a further $10,000 investment on the same terms bringing to $560,000 the closing announced today. The common shares and warrants issued today are subject to a hold period which expires on November 7, 2010.

Upon the first Carta closing announced today Mint will have 68,991,940 issued and outstanding common shares.

In addition, the Corporation and its subsidiary Mint Middle East LLC and Carta Solutions Processing Services have signed certain agreements between the companies as business partners whereby Carta will provide Processing Services to Mint Middle East LLC.

Mint CEO, Chris Hogg said today "Carta are an important strategic industry partner who share with Mint our confidence in the Corporations business plan in the Gulf region and we welcome both the investment to continue to fuel our growth and also the confidence that Carta have shown in our plans for the Mint Middle East business".

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.

ABOUT CARTA 

Carta is a leading technology provider of payment processing and payment based marketing solutions to the global market that utilizes prepaid cards and mobile phone devices. Our technologies enable us to provide a complete suite of payment solutions and services to program managers and corporations aiming to generate new and innovative revenue opportunities, while reducing payment processing costs.

Carta has been certified by MasterCard as an issuing processor, which enables us to provide suite of payment services that meet the needs of program managers and Financial Institutions.

Carta also offers a wide range of unique turn-key payment technology solutions to Corporations that integrate payment methods, loyalty and processing technologies that turn payment processing into a competitive advantage by providing new revenue opportunities while reducing costs.

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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