SOURCE: Mint Technology Corp.

December 10, 2007 10:06 ET

Mint Technology Not to Proceed With Private Placement

TORONTO--(Marketwire - December 10, 2007) - Mint Technology Corp. ("Mint") (TSX-V: MIT) announced that it will not be proceeding with the private placement offering of units at $0.09 that was announced on November 8, 2007. The decision was made due to unfavourable market conditions.

Mint requires additional capital by the end of January 2008 to continue as a going concern and the company is considering its options and various other financing instruments. No assurance can be given that Mint will be able to raise additional capital.

About Mint Technology Corp.: 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 more information please contact:

    Dean Thrasher
    Executive Vice President
    Mint Technology Corp.
    Tel: 416.581.0001
    Fax: 416.581.1527
    Email Contact