MIT The Mint Corporation

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") would like to
update the market on its current debt restructuring options as per the November
11, 2013 and January 3, 2014 announcements.


As stated in the Company's November 11, 2013 announcement, Mint is currently in
the process of raising new funds and closing the exchange of certain of its
Series 1 through 7 debentures for subscription receipts convertible into Series
A Debentures or units consisting of warrants and Series B Debentures. Existing
secured debt holders have been contacted and given the option to exchange their
current holdings of debentures for subscription receipts or units. At least 50%
of the subscription price for any subscription receipts must be paid in cash.
Any outstanding debentures exchanged for subscription receipts, see release
dated November 11, 2013, will be valued at the amount of principal and interest
owing under those debentures on the date the subscription receipts are converted
to Series A Debentures. In the case of debentures exchange for units, the
debentures so exchanged will be valued at 80% of the amount of principal and
interest owing under those debentures on the date of closing.


The Company is currently in arrears on the following interest payments: Series
1, October 25, 2013 payment; Series 2, December 23, 2013 payment; Series 3,
October 24, 2013 payment; Series 4, August, 13, 2013 and November 13, 2013;
Series 5, August 8, 2013 and November 8, 2013, Series 6, September 30, 2013 and
December 30, 2013; Series 7, September 30, 2013 and December 30, 2013. The total
amount of interest outstanding as of January 7, 2014 is $1,375,000.


As per the announcement on January 3, 2014, Mint has completed the private
placement of 15,021 subscription receipts for $1,000 each paid in cash and
anticipates further closings on subscription receipts and units within the next
10 to 15 days.


GENERAL DISCLOSURE STATEMENT

Investors are encouraged to read the most recent 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 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 MEPS, a
mobile airtime POS and Merchant network solutions business. 


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.


For additional information please visit www.mintinc.com or contact: The Mint
Corporation


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nabil Bader
President & CEO
Tel: +971 506457719
nbader@mintinc.com


Nicole Souadda
Head of Compliance and Investor Relations
Tel: 610-647-7882
nsouadda@mintinc.com

Grafico Azioni The Mint (TSXV:MIT)
Storico
Da Ago 2024 a Set 2024

Grafico Azioni The Mint (TSXV:MIT)
Storico
Da Set 2023 a Set 2024