TORONTO, ONTARIO--(Marketwired - May 1, 2013) -
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"), announced today that it will be late in filing its annual financial statements, MD&A and related CEO and CFO certificates for its fiscal year-ended December 31, 2012 (the "Year End Filings"). The Year End Filings are required to be filed no later than April 30, 2013. The audit of the Company's subsidiaries in the United Arab Emirates (UAE) is substantially complete at a field work level and is now subject to final review before sign off. The Company's auditors in Toronto have substantially completed their review of the UAE's auditors work papers and are now reviewing their own work in relation to the Company's North American operations and at the consolidated level. The Company is working toward a filing date on or before May 15th.
As described in its press release of April 19, 2013, Mint has requested that its principal regulator, the Ontario Securities Commission, issue a management cease trade order that prohibits the CEO, CFO and board of directors of the Company from trading in securities of Mint until the Year End Filings have been filed. The issuance of a management cease trade order would not affect the ability of persons who are not directors, officers or other insiders to trade Mint shares.
Except as set out above, there are no changes to be disclosed under the alternative reporting guidelines set out in National Policy 12-203.
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 issuance of a management cease trade order and the expected filing date of the Year End Filings. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to vary from those expressed or implied by such forward-looking statements. 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. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, any delays in the completion of the auditors' work on the financial statements and any decision of the Ontario Securities Commission to impose a cease trade order rather than a management cease trade order. 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. These forward-looking statements are made as of the date of this news release.
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. 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.
Mint Technology Corp.
President & CEO
Mint Technology Corp.
Head of Compliance and Investor Relations
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