Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

February 25, 2009 10:49 ET

Mint Increases Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2009) -

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Mint Technology Corp. (TSX VENTURE:MIT) today announced that it has received a subscription agreement (the "Additional Subscription") in the sum of $450,000 under the private placement announced on February 2, 2009. That subscription is expected to close on or about March 9, 2009 and Mint, to accommodate this investment, has increased the size of the private placement from $300,000 to $575,000.

Mint has also agreed to lend $225,000 to the subscriber under the Additional Subscription. The loan will be advanced upon closing of the Additional Subscription and it will be repayable 6 months thereafter. The loan is to be unsecured and will bear interest at 6.5% per annum.

Mint has also completed under the same private placement an issue of units for gross proceeds of $101,500. Mint issued 1,353,335 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 first closing of the private placement announced on February 2, 2009.

The common shares and common share purchase warrants which were issued under the private placement are subject to a hold period which expires on June 24, 2009. Following the closing, there are approximately 26,860,000 issued and outstanding common shares of Mint.

The common shares and common share purchase warrants which were issued under the private placement include 800,000 shares and warrants issued to insiders of Mint. Pursuant to Multilateral Instrument 61-101 ("MI 61-101"), the participation of these insiders constitutes a "related party transaction". Mint is exempt from the formal valuation requirement and shareholder approval requirement of MI 61-101.

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.

For additional information please visit www.mintinc.com.

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