The Mint Corporation
TSX VENTURE : MIT

The Mint Corporation

September 08, 2014 09:02 ET

The Mint Corporation Announces the Results of their Annual General Meeting

TORONTO, ONTARIO--(Marketwired - Sept. 8, 2014) -

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The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") is pleased to announce results of the vote by shareholders at its annual general meeting held on September 4, 2014 in Toronto, Ontario.

Results of Annual General Meeting

Each of the director nominees proposed by management for election was elected to the Board of Directors: Mr. Pierre G. Gagnon, Mr. Neil Gilday, Mr. Vishy Karamadam, Mr. Ashish Kapoor and Mr. Samuel Webster were elected to the Board of Directors and Mr. Graeme Johnson is new to the Board.

At the meeting, shareholders also approved the following resolutions:

  • To set the number of directors to be elected to the Board of Directors at six
  • Re-appointment of MNP LLP as auditors for the ensuing year and authorizing the directors to fix their remuneration
  • Approval of the Company's stock option plan
  • Approval for the Advance Notice By-Law No. 3, as set out in the Management Information Circular as filed on SEDAR.

Mr. Randy Koroll did not stand for re-election to the Board in order to pursue other business interests. The Company wishes to kindly thank Mr. Koroll for his contributions and dedicated service.

Mr. Gagnon, Chairman of the Board is pleased to welcome Mr. Graeme Johnson to the Board and believe that his skills and background will provide significant value to Mint, both in terms of enhancing corporate governance as well as providing strategic leadership for Mint.

Mr. Graeme Johnson is President of Granite & Pine Investments, a private investment company, and acts as Investor and Advisor with regard to substantial private equity assets, and in particular those of a scarce or particularly strategic nature. Mr. Johnson is also a pro-bono Member of the Board of Directors of the Quebec City Conference as well as Co-President of its Global Investment Forum, bringing together investors from sovereign wealth, pension and endowment funds as well as leading single-family offices. He is also Founder and a Director of Abu Dhabi Earth Observation Systems Limited, a private company based in the UK and the UAE that was founded by Mr. Johnson to provide governments and corporates throughout the Arab-speaking world with exclusive access to cutting-edge earth observation data

Mr. Johnson began his career at KPMG in Germany after the fall of the Berlin Wall before leaving to attend Harvard Business School. Moving to Patagonia after HBS, he ran the treasury and strategic financial operations for Argentina's third-largest export group. Subsequent to this corporate financial leadership role he moved into professional investing and spent more than ten years in institutional private equity through until 2009. Notably, at 32 years of age, Mr. Johnson was Managing Director, Head of Europe, in the Private Equity Funds Group at Deutsche Bank Group, in London. Whilst at Deutsche, he served on the Global Private Equity Investment Committee for the bank and was responsible for private equity investing and fundraising in Europe the Middle East and Africa.

Mr. Johnson also worked in a similar capacity for other private equity fund investment houses and, prior to his recruitment to Deutsche, was a member of the Management Committee at LGT Capital Partners, belonging to the family office for the Princely Family of Lichtenstein. He has closed on over $2bn of funding commitments from institutional investors and participated directly in a similar amount of investments in companies and funds. He has served on the Advisory Committees of numerous leading private equity funds from around the world.

Acting as a principal investor, Mr. Johnson has also been CEO of a publicly listed oil company, trading on the senior exchange in Canada, with oil and gas deposits under development in Kazakhstan.

Mr. Johnson earned his MBA from the Harvard Business School; a BA, Scholars Electives, from the University of Western Ontario; and holds the CFA designation. He has worked and lived on five continents, has business fluency in four languages, and is a member of the Travelers Century Club (for travel to 100+ countries).

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 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 3 subsidiaries, Mint Middle East LLC, a payroll card services provider; Mint Capital LLC, a financial products distribution company and Mint Electronic Payment Services LLC, a mobile airtime POS and merchant network solutions business.

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