Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

February 12, 2010 13:59 ET

Mint Grants Stock Options

TORONTO, ONTARIO--(Marketwire - Feb. 12, 2010) -

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

Mint Technology Corp. ("Mint" or the "Company") (TSX:MIT) today announced that it has granted senior officers options to purchase a total of 4,065,600 common shares under Mint's stock option plan. These options were issued in lieu of cash compensation otherwise payable for the period of January 1 - December 31 2009.

The options are exercisable at $0.125 for a period of 2 years expiring January 21, 2013 and are subject to a hold period of 6 months from date of issue. Options were granted to Chris Hogg, Mint's CEO (1,005,600 common shares), Debbie Gamble, Mint's COO (1,080,000 common shares), Bradley Kruse, Mint's SVP of Global Business Development (1,584,000 common shares) and Andrew Martinez, Mint's Commercial Director and now Mint's CFO (396,000 common shares).

The board of directors has approved an amendment to the stock option plan increasing the number of shares reserved under the plan from 5,000,000 to 7,000,000. This was necessary to accommodate the option grants. The shares reserved for issuance under all stock options (including the options referred to in this press release), total 6,959,860 (representing 12.5% of the outstanding common shares and 7.2% of the fully diluted capital of the Company).

The amendments to the stock option plan are subject to stock exchange approval and approval by the shareholders and disinterested shareholders of Mint at its annual meeting scheduled for February 26, 2010. Until those approvals are obtained, each of the option announced today has been limited to prohibit the exercise of options in excess of the current maximum size of the plan.

Following the options issue, Chris Hogg of Radnor, Pennsylvania USA will own and control through Glocap Management Inc 1,180,800 common shares, 2,696,000 warrants and 2,755,600 options. The common shares owned by Mr. Hogg will represent approximately 2.12% of the outstanding common shares of Mint. If the warrants and options owned by Mr. Hogg are fully exercised, the holdings of Mr. Hogg would represent approximately 10.8% of the outstanding common shares of Mint (assuming that no other outstanding warrants and options of Mint are exercised). Mr. Hogg may increase or decrease his investment in Mint depending on market conditions or other relevant factors.

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.

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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