SOURCE: Mint Technology Corp.

March 05, 2008 17:30 ET

Mint Technology Corp. Arranges $1,035,000 Private Placement Financing

TORONTO--(Marketwire - March 5, 2008) - Mint Technology Corp. (TSX-V: MIT) ("Mint" or the "Company") is pleased to announce that it has arranged a non-brokered private placement of $1,035,000. The proceeds will be used for working capital purposes.

The private placement includes the issuance of 13,800,000 units (the "Units"). Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable, for 24 months from closing, for one common share at an exercise price of $0.10. Upon completion of the private placement, the purchasers of the Units will hold approximately 61% of the outstanding common shares in Mint.

All of the securities issued in the private placements will have a hold period expiring on July 6, 2008.

About Mint Technology Corp. ("Mint"): Through its wholly owned subsidiaries, Mint is a leading payment solutions company. With its payment platform and prepaid credit card programs, Mint is the first in Canada to facilitate and deploy prepaid credit cards with unique features such as co-branding and loyalty programs, and new wireless payment alternatives such as contactless functionality. The company is headquartered in Toronto, Ontario. www.mint-technology.ca

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • For further information please contact:
    Mike Forzley, CA
    Chief Financial Officer
    Mint Technology Corp.
    Phone: 416-581-0001 ext 243
    Fax: 416.581.1527
    e-mail: Email Contact