TORONTO, ONTARIO--(Marketwire - Aug. 16, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. (TSX VENTURE:MIT) announced that in February and March it completed the issuance of $1,705,000 of Series IV debenture units. Each unit consisted of $1.00 principal amount of secured debentures and 1.4 bonus shares, as announced on February 24, 2012. The securities issued were subject to hold periods expiring on June 16, 2012 (as to $750,000 of units), July 3, 2012 (as to $550,000 of units), July 22, 2012 (as to $300,000 of units) and July 28, 2012 (as to $105,000 of units). The debenture interest rate is 12% payable quarterly in arrears. The debentures are due and payable on February 13, 2014.
Mint paid the following in dealer commissions in connection with the closings (i) $28,350 of cash commissions and (ii) warrants to purchase 750,000 common shares at an exercise price of $0.25 each which expire on March 2, 2014.
On July 18, 2012, Mint announced the closing of the acquisition of ePAY, a division of Global Business Services for Multimedia, in which 16,554,250 common shares were issued as part of the acquisition price. These shares are subject to a hold period which expires on October 23, 2012.
These securities were not and will not be registered under the U.S. Securities Act of 1933, as amended.
ABOUT MINT TECHNOLOGY CORP
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 including microcredit, mobile top up and money remittance services delivered seamlessly to workers throughout the Middle East and North Africa region. Mint operates through 4 subsidiaries, Mint Middle East, a payroll card services provider, Mint Capital (for Mint Money group of products), a financial products distribution company, Mint Global Processing, a fully integrated third party processing platform and, Mint Electronic Payment Services trading as ePAY, a mobile airtime POS and Merchant network solutions business. Mint has 108 employees in 8 offices in UAE (3), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the Toronto Stock Exchange (TSX VENTURE:MIT).
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.