SOURCE: Mint Technology Corp.

December 13, 2005 15:47 ET

Mint Completes Private Placement

TORONTO -- (MARKET WIRE) -- December 13, 2005 -- Mint Technology Corp. (TSX-V: MIT) announced today that it has completed its previously announced private placement of units (the "Units") for $250,000. Pursuant to the private placement, each Unit was priced at $0.40 and consisted of one common share and one-half of one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share for $0.50 for a period of 24 months from closing.

Northern Securities acted as lead agent on this private placement. The agents will receive an option to purchase 62,500 Units from Mint at a price of $0.40 per Unit until 24 months after the closing date. In addition, a cash commission of 8.0% of the aggregate gross proceeds of the Offering is to be paid to the agents.

The Units are subject to a four-month hold period, which expires on April 9, 2006.

About Mint Technology Corp.

Mint is a leading payment solutions company. Through the Company's payment platform, Mint is the first in Canada to facilitate and deploy prepaid MasterCard® cards with unique features such as co-branding and loyalty programs and new wireless and contactless payment alternatives such as prepaid MasterCard cards with PayPass™ functionality. Mint enables fully featured prepaid credit card programs by offering a back-office platform, transaction processing and full service card management including program implementation and deployment. The company is headquartered in Toronto, Ontario. To find out more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mintinc.com.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE MAY INCLUDE STATEMENTS ABOUT FUTURE EVENTS AND/OR FINANCIAL STATEMENTS THAT ARE FORWARD LOOKING IN NATURE, SUBJECT TO RISKS AND UNCERTAINTIES.

Contact Information

  • For further information contact:

    Dean Thrasher
    Executive Vice President, Corporate Development,
    Mint Technology Corp.
    Phone: 416-581-0001 ext.241
    Fax: 416-581-0006
    Email: Email Contact