TORONTO, ONTARIO--(Marketwire - Dec. 19, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. (TSX VENTURE:MIT) ("Mint" or the "Company") is pleased to announce that it has completed the private placement of CAD$200,000 of secured 12% debentures on December 14, 2012, together with 100,000 loan bonus common shares of Mint (the "Private Placement"). The securities issued are subject to a hold period expiring on April 15, 2013.
Portfolio Strategies Securities Inc. (the "Agent") received a cash commission of $6,000 (3.0% of gross proceeds) and the Agent will be paid a commission in common shares of Mint (the "Agent's Shares") equal to 0.5% of the gross proceeds, priced at the 45 day volume weighted average price of Mint's common shares on December 14, 2012.
This closing is the fifth and final tranche of the private placement announced on September 11, 2012. The total amount raised in the private placement was CAD$4,786,500 and USD$300,000.
The Company wishes to correct an error in the press release of December 4, 2012 which announced that 802,282 Agent's Shares were received by the Agent in connection with the fourth tranche, when in fact 80,015 Agent's Shares were received.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to a "U.S. Persons" as such term is defined in Regulation S under the U.S. Securities Act unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.
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 ePAY, a mobile airtime POS and Merchant network solutions business. Mint has 108 employees in 8 offices in UAE (3), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the TSX Venture Exchange: MIT.
For additional information please visit www.mintinc.com.