TORONTO, Aug. 21 /CNW/ - Mint Technology Corp. (TSX-V: MIT) ("Mint" or
"the Company") today announced that a settlement has been reached to satisfy
in full a claim for a disputed debt.
The lawsuit claimed that Mint was liable for unpaid accounts totalling
approximately $47,500, plus interest. The settlement requires Mint to issue
warrants, exercisable for a period of 12 months, to purchase: (a) 200,000
common shares at an exercise price of $0.20 per share, and (b) 50,000 common
shares at an exercise price of $0.15 per share; while the plaintiff has agreed
to arrange for the purchase of $25,000 of Mint common shares through the TSX
Venture Exchange. The issuance of the warrants is subject to acceptance by the
TSX Venture Exchange. The warrants, and any shares issued under the warrants,
will be subject to a hold period expiring four months from the date the
warrants are issued.
ABOUT MINT TECHNOLOGY CORP.
Through its wholly owned subsidiaries, Mint is a leading payment
solutions company. With its payment platform and prepaid credit card programs,
Mint is the first in Canada to facilitate and deploy prepaid credit cards with
unique features such as co-branding and loyalty programs, and new wireless
payment alternatives such as contactless functionality. The Company is
headquartered in Toronto, Ontario.
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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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For further information: For additional information please visit
www.mintinc.com or contact: Mint Technology Corp., Chris Hogg, President and
CEO, Tel: (416) 581-0001, Email: email@example.com; Dawn Mandarino, CFO, Tel:
(416) 581-0001, Email: firstname.lastname@example.org; CHF Investor Relations: Lindsay
Carpenter, Account Manager, Tel: (416) 868-1079 ext. 239, Email:
email@example.com; Sasha Abrams, Associate Account Manager, Tel: (416)
868-1079 ext. 246, Email: firstname.lastname@example.org