Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

May 02, 2011 18:09 ET

Mint Completes Private Placement Closing

TORONTO, ONTARIO--(Marketwire - May 2, 2011) -

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

Mint Technology Corp. (TSX VENTURE:MIT) announced today that it has completed a non-brokered private placement of 715,000 Debenture units for gross proceeds of $715,000. Each unit consisted of $1.00 principal amount of secured debentures and two common shares. These securities are subject to a hold period which expires on August 16, 2011.

Mint paid the following dealer commissions in connection with this closing (i) cash commissions of $48,300, (ii) non-transferable warrants to purchase 48,300 Debenture units on or before April 25, 2014 at an exercise price of $1.00 each (each unit consisting of 2 common shares and $1.00 of secured debenture due two years following issuance and bearing interest at 12% per annum).

This is the second closing of the private placement announced on March 1, 2011. A total of $1,665,000 of the $2,000,000 proposed has been raised through the issuance of 1,665,000 Debenture units.

ABOUT MINT TECHNOLOGY CORP.

Mint Technology Corp. is a pioneer in prepaid financial products and services and was Canada's first provider of prepaid credit card programs. Today, Mint, through its subsidiary Mint Middle East LLC based in Dubai, UAE, designs, builds and manages an end-to-end card based payments solution for employers and employees for the payment of wages and benefits. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage these 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 money remittance technologies.

Stock Symbol: MIT on the TSX Venture Exchange.

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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