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News for Mint Technology Corp. |
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Breaking
News
Avenue Investments, L.P. Announces
Acquisition Of Common Shares And Special Warrants Of Mint Technology
Corp.
14:58 EST Friday, December 01, 2006
FSC / Press Release
Avenue Investments, L.P. Announces Acquisition Of Common Shares And
Special Warrants Of Mint Technology Corp.
Toronto, Ontario CANADA, December 01, 2006 /FSC/ - Mint Technology
Corp. (MIT - TSX Venture),
Avenue Investments, L.P. ("Avenue") reports that on November 30, 2006
it has acquired by means of participation in a private placement of
securities by Mint Technology Corp. ("Mint") an aggregate of 27,816,466
common shares (the "Shares") of Mint at a price of $0.07 per Share and
32,662,466 special warrants (the "Special Warrants") of Mint at a price
of $0.07 per Special Warrant. Each Special Warrant will entitle Avenue
to acquire one additional Share of Mint for no additional consideration
and will be deemed to have been exercised by Avenue on the date on
which the shareholders of Mint approve Avenue as a Control Person of
Mint in accordance with the applicable policies of the TSX Venture
Exchange. Any Special Warrants which are not exercised by November 30,
2007 will be repurchased by Mint for a purchase price of $0.07 per
Special Warrant. The Special Warrants may be transferred by Avenue to
arm's length third parties subject to the approval of the TSX Venture
Exchange in which case they will be deemed to have been exercised into
the underlying Shares by the transferee of such Special Warrants on the
date that the transferee acquired the Special Warrants.
Following completion of the acquisition of the Shares and Special
Warrants (and assuming the exercise thereof) acquired by Avenue
represent approximately 35% of the issued and outstanding common shares
of Mint on a partially-diluted basis and approximately 28% of the
issued and outstanding common shares on a fully diluted basis.
The Shares and Special Warrants were acquired by Mint in the ordinary
course of business in exchange for the satisfaction of an aggregate of
$4,233,525 in principal and accrued interest owing to Avenue under the
secured credit facility between Mint and Avenue. The Shares and Special
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:
Julie Dien Ledoux
Avenue Investments, L.P.
535 Madison Avenue, 15th Floor
New York, New York
U.S.A. 10022
(212) 878-3508
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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