TORONTO, ONTARIO--(Marketwire - Sept. 25, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. (TSX VENTURE:MIT) ("Mint" or the "Company") announces that it intends to offer the holders of its Series I Debentures and Series II Debentures the opportunity to extend the maturity date of those debentures to September 15, 2015 in consideration for 0.5 common shares of Mint for every $1.00 of debenture extended. USD$1,457,750 Series I Debentures are outstanding, of which USD$250,000 mature on December 23, 2012 and USD$1,207,750 mature on January 25, 2013. $1,865,400 Series II Debentures are outstanding, of which $950,000 mature on March 7, 2013 and $915,400 mature on March 23, 2013.
The extension of a debenture will require the consent of the debenture holder, failing which the debenture will continue to mature on the original maturity date. The holders of approximately 75% of the Series I Debentures and Series II Debentures have expressed an interest in extending the maturity of those debentures. The extension of the debentures is subject to the approval of the TSX Venture Exchange.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward looking statements include the intention to offer the debenture extension to debenture holders. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements, including the risk that Mint will not obtain approval of the TSX Venture Exchange and the risk that debenture holders may elect not to participate in the debenture extension. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this news release, Mint cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and Mint 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 regulations.
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 delivered to workers in the United Arab Emirates and expanding to other parts of the Middle East. Mint operates through 4 subsidiaries, Mint Middle East LLC, a payroll card services provider; Mint Capital LLC, a financial products distribution company; Mint Global Processing Inc., a fully integrated third party processing platform; and 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 TSX Venture Exchange: 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.