Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

May 25, 2011 11:32 ET

Mint Insider Invests $1,000,000 on Same Terms as Private Placement

TORONTO, ONTARIO--(Marketwire - May 25, 2011) -

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Mint Technology Corp. ("Mint" or the "Company") (TSX VENTURE:MIT) announces that the Company has agreed to amend the terms under which it will purchase a part of the 40% of Mint Middle East LLC (MME) which is not owned by Mint. As a result of the amendment, Maher Kaddoura will receive USD$1,000,000 of units similar to those to be issued under the private placement referred to in Mint's press release of May 19, 2011, thereby reducing the amount required to be raised under that private placement by that amount.

In its press release of March 9, 2011, Mint had announced that the USD$1,500,000 purchase price for the 15% of MME owned by MME COO Maher Kaddoura would be paid in three installments of USD$500,000 all payable in cash. Mint and Mr. Kaddoura have now agreed that the purchase price of USD$1,500,000 will be payable as to USD$500,000 in cash and as to USD$1,000,000 by the issuance of 8,000,000 units (the "Units") at a price of USD$0.125 per Unit. Each Unit will consist of one common share and one warrant. Each warrant is exercisable for one common share at CDN$0.15 within two years following issuance.

Following completion of the purchase of Mr. Kaddoura's interest in MME and without taking into account the issuance of shares and warrants under the private placement referred to in Mint's press release of May 19, 2011, Mr. Kaddoura will own 8,000,000 common shares and 8,000,000 warrants, representing approximately 6.31% of the outstanding shares of Mint on a non-diluted basis and 11.86% on a partially diluted basis.

The issuance of shares and warrants to Mr. Kaddoura will be a related party transaction for the purposes of National Instrument 61-101. Mint intends to call a special meeting of shareholders to obtain minority approval as required under National Instrument 61-101 and the policies of the TSX Venture Exchange. The completion of the transaction is subject to Mint obtaining minority shareholder approval as required under National Instrument 61-101 and the approval of the TSX Venture Exchange.

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward-looking statements include the expected closing date of the acquisitions of interests in MME. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. In addition to other risks, the closing of the acquisition of interests in MME could be delayed or fail to proceed if shareholder approval or TSX Venture Exchange approval is delayed or not obtained. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this news release, Mint cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and Mint disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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 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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