The Mint Corporation Announces Rights Offering

TORONTO, ONTARIO--(Marketwired - May 26, 2016) -

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The Mint Corporation ("Mint" or the "Company") (TSX VENTURE:MIT) today announced that it will be offering rights to holders of its common shares of record at the close of business on June 3, 2016 (the "Record Date") in respect of an offering to subscribe for up to 73,642,790 common shares at a subscription price of $0.05 per common share to raise up to $3,682,140. The rights issued under the rights offering will expire at 4:00 p.m. (Toronto time) on June 27, 2016 (the "Expiry Date").

The rights will be offered to registered shareholders on the Record Date in each province and territory of Canada (the "Eligible Holders"). Each Eligible Holder will receive one right for each common share held. One right plus the subscription price of $0.05 will entitle the holder to subscribe for one common share.

The rights offering will include an additional subscription privilege under which holders of rights will be entitled to subscribe for common shares that are not otherwise subscribed for under the right offering.

There is no standby commitment in respect of the rights offering. The completion of the rights offering is not subject to raising a minimum amount of proceeds. The Company has applied to the TSX Venture Exchange for a waiver of its requirement to list the rights.

Gravitas Financial Inc., which holds approximately 63.5% of the outstanding common shares, has indicated to the Company that it intends to participate in the rights offering by exercising all of its basic subscription privilege.

A copy of the rights offering circular will be filed on www.sedar.com, together with a rights offering notice. The rights offering notice and a rights certificate will be mailed to each Eligible Holder. Rights may be exercised by sending the completed rights certificate, together with the subscription price, to Computershare Investor Services Inc., the rights agent of the Company, on or before the Expiry Date. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

The net proceeds of the rights offering will be used by the Company for working capital and to pay interest on its outstanding debentures. While the Company intends to spend the available funds as described, there may be circumstances where, for sound business reasons, a reallocation of the available funds may be necessary.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

Forward Looking Statements

This press release contains forward-looking statements. More particularly, this press release contains statements which include the anticipated use of proceeds and the intention of Gravitas Financial Inc. to exercise its basic subscription privilege. The forward-looking statements are based on certain expectations and assumptions made by the Company. Although the Company believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. In addition to other risks, there may be circumstances where, for sound business reasons, the Company may reallocate the use of available funds and Gravitas Financial Inc. may elect to change its decision with respect to the exercise of its basic subscription privilege. The forward-looking statements contained in this press release are made as of the date hereof. The Company 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 laws.

General Disclosure Statement

Investors are encouraged to read the Company's 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. It is exposed to significant political, legal and regulatory risks associated with operating in this emerging and volatile market. The key management personnel and operations of the Company are based in countries which do not have strong and reliable judicial enforcement. This results 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 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 investing 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 a vertically integrated prepaid card and payroll services provider with its own processing platform, ATM network and proprietary branded card products delivered to workers in the United Arab Emirates. Mint operates as a payroll card and processing services provider in the UAE through its ownership in Mint Middle East LLC and Mint Gateway for Electronic Payment Services LLC.

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.