The Mint Corporation

The Mint Corporation

June 04, 2015 09:17 ET

Mint Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - June 4, 2015) -


The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") announces the following:

Technology Implementation

Mint is pleased to announce that the new payments processing platform deployment by Mint Gateway for Electronic Payment Services LLC (a United Arab Emirate company 49% owned by Mint through its wholly-owned subsidiary Mint Capital LLC) has achieved a key milestone for closed loop cards by successfully migrating the first batch of closed loop cards to the new processing platform. Further testing is currently underway to ensure the platform is working as expected in the live environment before continuing with further card migrations to the new platform.

Personnel addition

To successfully implement and manage the new technology platform the UAE entities have hired a new technology team including a Chief Technology Officer who brings operational knowledge and experience in the new technology platform.


The Mint group of companies in the UAE was a Gold Sponsor and exhibitor at the Cards and Payments Conference in Dubai held on May 12 and 13, 2015. The event provided a platform for Mint to exhibit its planned suite of product offerings.

New UAE focused website

The company has also launched a new website at, addressed to the UAE market needs, that explains the broader suite of product and service offerings that the company is developing.

General Disclosure Statement

Investors are encouraged to read the Management Discussion and Analysis Documents filed on SEDAR for a description of additional risks associated with investing in the Company. The following statement is only intended to inform investors on certain of the many risks associated with investing in the Company. The Company operates predominantly in the Middle East and North Africa ("MENA"). It is accordingly exposed to significant political, legal and regulatory risks associated with operating in these emerging and volatile markets. The key management personnel and operations of the Company are based in countries which do not have strong and reliable judicial enforcement. This results directly in additional risk with respect to the enforcement of legal and contractual rights, including, for example but without limitation, the enforcement of the rights of creditors, the protection of intellectual property rights, the enforcement of joint venture arrangements, and binding key employees with non-compete agreements. Since inception, the Company has not reached profitability. The Company relies heavily on high-cost, debt financing to fund its business plan. This has exposed the Company to unique financial risks associated with significantly higher than normal debt levels. Investors in the company are strongly encouraged to be aware of the significant risks of the company, to conduct additional due diligence and to seek the help of a licensed investment advisor before considering to invest in securities of the Company. Moreover, investors must be aware that the purchase of the Company's securities involves a number of additional significant risks and uncertainties, as disclosed in the Management Discussion and Analysis reports filed on SEDAR by the Company. Investors considering purchasing securities of the Company should be able to bear the economic risk of total loss of such investment.

About The Mint Corporation

Established in 2004, Mint is the world's first vertically integrated prepaid card and payroll services provider with its own ATM network, payment processing platform and proprietary branded card product delivered to workers in the United Arab Emirates and expanding to other parts of the Middle East. Mint operates through its subsidiary, Mint Middle East LLC, payroll card services provider in UAE.

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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