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News for Mint Technology Corp. |
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Breaking
News
Kodiak Metals Llc Announces Acquisition
Of Common Shares And Warrants Of Mint Technology Corp.
17:11 EST Monday, December 04, 2006
FSC / Press Release
Kodiak metals llc announces acquisition of common shares and warrants
of mint technology corp.
Toronto, Ontario CANADA, December 04, 2006 /FSC/ - Mint Technology
Corp. (MIT - TSX Venture),
Kodiak Metals LLC ("Kodiak") reports that on November 30, 2006 it
acquired by means of participation in a private placement of securities
by Mint Technology Corp. ("Mint") an aggregate of 14,992,854 common
shares (the "Shares") of Mint and 3,225,316 common share purchase
warrants (the "Warrants") of Mint. The subscription price for these
securities was $1,049,500, of which $597,556 represented the
satisfaction of principal and accrued interest owing to Kodiak under
the secured credit facility between Mint and Kodiak and $451,544
represented money paid by Kodiak to Mint. Each Warrant entitles the
holder to purchase one Share for $0.14 for a period of 12 months from
November 30, 2006. If the weighted average trading price of the Shares
is over $0.30 per share for a period of 30 consecutive days at any
time, the Warrants must be exercised within 20 business days of
receiving written notice from Mint or they will terminate.
Following completion of the acquisition of the Shares and Warrants (and
assuming the exercise thereof), the Shares and Warrants owned by Kodiak
represent approximately 17.75% of the issued and outstanding common
shares of Mint on a partially-diluted basis and approximately 11.14% of
the issued and outstanding common shares on a fully diluted basis.
The Shares and Warrants were acquired by Kodiak in the ordinary course
of business. The Shares and Warrants are held for investment purposes.
These investment holdings may be increased or decreased in the future.
For further information (including obtaining a copy of the early
warning report filed as a result of this transaction), please contact:
David Jackson
Kodiak Metals, LLC
159 Lost District Drive
New Canaan, CT 06840
(416) 214-5640
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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