Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

March 19, 2009 13:40 ET

Mint Completes Private Placement

TORONTO, ONTARIO--(Marketwire - March 19, 2009) -

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Mint Technology Corp. (TSX VENTURE:MIT), announced today that it has closed, in escrow, a non-brokered private placement of units for gross proceeds of $225,000. Mint issued 3,000,000 units at $0.075 per unit. Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.10 until January 31, 2011.

This is the second closing of the private placement announced on February 2, 2009. A total of $326,500 has been raised through the issuance of 4,353,335 units, consisting of a total of 4,353,335 common shares and 4,353,335 common share purchase warrants.

The common shares and common share purchase warrants issued in the private placement announced today are subject to a four month hold period which expires on July 20, 2009. Following completion of the private placement, there are approximately 29,860,000 issued and outstanding common shares of Mint.

The subscriber for the units issued today is Jane Stone (the "Subscriber") of Cardiff, Wales. The subscription has closed in escrow pending approval by the TSX Venture Exchange of the Subscriber as a new insider of Mint. Following this closing and the release from escrow, the Subscriber will own and control 3,000,000 common shares and 3,000,000 warrants received in the private placement. The Subscriber does not hold any other securities of Mint. The 3,000,000 common shares represent approximately 10.05% of the outstanding common shares of Mint. If the warrants are fully exercised, the holdings of the Subscriber would represent approximately 18.26% of the outstanding common shares of Mint (assuming that no other outstanding warrants and options of Mint are exercised). This transaction was made for investment purposes only and the Subscriber may increase or decrease her investment in Mint depending on market conditions or other relevant factors.

On February 24, 2009, Mint announced its intention to accept a $450,000 subscription for units, together with a loan back to the subscriber for $225,000. Following discussions with the TSX Venture Exchange, Mint and the Subscriber agreed that they would complete the subscription for $225,000 announced today and that they will complete a second subscription for $225,000 to be closed on or before September 3, 2009. The September closing will be a subscription for units, each unit consisting of one common share and one common share purchase warrant. The units will be priced at the lowest price permitted by the TSX Venture Exchange. The warrants forming part of these units will be exercisable for 24 months and will be exercisable at the lowest price permitted by the TSX Venture Exchange.

To receive a copy of the early warning report for the Subscriber, please contact Chris Hogg at the address indicated in this press release.

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.

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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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