Toronto, Ontario - February 6, 2013 - Mint Technology Corp. (TSX Venture: MIT) ("Mint" or the "Company")
announces that it continues to be actively engaged with several investment groups both in North America and the
Middle East to secure the most optimal financing plan for its business objectives this calendar year. The following
is a summary:
?Mint filed a preliminary prospectus as announced September 11, 2012. Mint is considering whether it will
restructure or withdraw that offering, due to a change in the money remittance strategy (the termination
of the Speed Remit agreement announced January 22, 2013 and the formation of the Arab Link money
transfer partnership announced January 29, 2013) and comments from the Ontario Securities
Commission. A restructured offering would include a reduction in the maximum offering, a change in the
use of funds and an equity condition (including the private placement announced on January 21, 2013).
?Mint submitted a preliminary prospectus on January 13, 2013 to the Dubai Financial Services Authority
("DFSA") in response to interest expressed from several Middle East based investors who are unable to
invest in Canadian securities. Conditional approval to list up to USD$12,000,000 of secured debentures
has been given by NASDAQ Dubai pending the approval of the DFSA, the applicable regulator. Mint has
received and responded to initial comments provided by the DFSA and expect a second comment letter
by the end of the week. These debentures will only be offered in the United Arab Emirates. The
debentures will bear interest at 12% per year payable quarterly and will be secured against the assets of
Mint Technology Corp. and the assets of Mint Electronic Payment Services LLC. Mint expects that this
listing will lead to a secondary listing of Mint's common shares on the NASDAQ Dubai. This will provide a
local market and additional liquidity for Middle East investors.
?Due diligence has been completed with a leading financial institution for a wholesale financing facility of
between USD$20,000,000 and USD$40,000,000 to be used to fund loans to be made under the
microfinance loan program of Mint Capital LLC. Mint is now awaiting a response from the institution's
credit committee and will keep the market updated as information becomes available. Mint expects that
these loans will be secured against the microfinance loan portfolio.
Chris Hogg, Mint Executive Chairman said today, "As we head into 2013, we are managing a business with diverse
capital and cash flow requirements, principally cash collateral to secure trading bank facilities. We are processing
over $150,000,000 of wages each month through Mint Middle East LLC, have a $40,000,000 wholesale
microfinance funding program which Mint Capital LLC wants to undertake over the next year, expect to sell over
$200,000,000 in mobile top up minutes through Mint Electronic Payment Services LLC this year and expect to
manage the remittance this year of over $500,000,000 in funds transfer home through Mint Middle East's money
Mint expects to have a comprehensive financing package agreed from the range of alternatives above by the end
of Q1 2013.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to
future events or our future performance, including the issuance and listing of debentures on the NASDAQ Dubai,
the financing proposal which Mint Capital LLC is anticipating in connection with its microfinance program, the
amount of microfinance loans expected to be made by Mint Capital LLC over the next year, the value of the mobile
top up minutes to be sold through Mint Electronic Payment Services LLC this year and the value of the remittances
to be through Mint Middle East's money transfer partnership over the next year. 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 the Company may not
receive all necessary approvals to proceed with the financing transactions, the risk that there will be insufficient
investor interest in the NASDAQ Dubai debentures, the risk that Mint Capital LLC will not receive a financing
proposal or that the terms of that proposal will be unacceptable and the risk that the microfinance loan program,
the sale of mobile top up minutes and the volume of money transfers will not meet their expected levels.
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.
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
For additional information please visit www.mintinc.com or contact: Mint Technology Corp.
President & CEO
Tel: +971 506457719
Head of Compliance and Investor Relations
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
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