Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

July 06, 2010 18:03 ET

Mint Secures New Client Contract No 400

TORONTO, ONTARIO--(Marketwire - July 6, 2010) -

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Mint Technology Corp. (TSX VENTURE:MIT) (Corporation) announced today that the Corporation's Middle East business unit, Mint Middle East/Waseela recently signed its 400th client contract.

Mint CEO, Mr. Chris R Hogg said today, "It was March this year that we passed the 100th client contract mark and in May, less than two months ago, the 200th mark and the continuing growth in new clients is a function of an excellent sales effort this last quarter and the markets needs to meet government regulation.

"Mint will announce its Q3 results on July 9 which will show further EBITDA improvement driven particularly now from higher margins from the small to medium size business clients. While the employee numbers per client are lower the growth in Revenues and margins per employee is most encouraging, said Mr. Hogg.

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.

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 forecast concerning increases in revenue and improving EBITDA performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements 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, should not be read as guarantees of future performance or results, and will not necessarily by accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, delays in rolling out card programs, the ability of Mint to obtain financing and terms of any financing, the possibility of technical, logistical or planning issues in connection with deployment of Mint's products and solutions, the demand for Mint's products failing to occur, and other factors discussed in Mint's MD&A filed on SEDAR. 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 new release, Mint cannot assure investors that actual results will be consistent with these forward looking statements. These forward-looking statements are made as of the date of this news release.

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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