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News for Mint Technology Corp. |
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Breaking
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Mint Shareholders Approve Matters
Presented at Annual General Meeting
13:46 EST Tuesday, February 06, 2007
FSC / Press Release
Mint Shareholders Approve Matters Presented at Annual General Meeting
Toronto, Ontario CANADA, February 06, 2007 /FSC/ - Mint Technology
Corp. (MIT - TSX Venture), ("Mint") announced today that all
resolutions presented at the Annual and Special Meeting of Shareholders
held on February 5 were approved by Mint's shareholders.
Mint has reconstituted the board of directors and welcomes its members
for an exciting year ahead. The board will now consists of; Frank
Maduri, Dean Thrasher, Roger Rai, Jonathan Carroll, and Frank Jasek.
Mint would also like to take this opportunity to thank Joseph Kolb for
his dedication and service to the board of directors, as well as some
of the committees at Mint over the past four years, and wish him
success in his future business endeavours.
PKF Hill LP will continue to serve as the Mint's external auditors, as
voted on and accepted by shareholders. By remaining with our current
auditors, who provide the required level of assurance to shareholders
on a cost-effective basis, we retain more of our capital base to use
for operational purposes.
More cost effective auditors for the company have been chosen and
accepted. This savings allows more capital for operations as the
company moves forward.
The shareholders of Mint have also supported the resolution of its
stock option plan from a fixed to a rolling plan as well as a reduction
in the exercise price to $0.12. The adjustment in the plan gives
management the proper tools to compensate its employees during a
critical period in the company's lifecycle. Mint is currently launching
several products and has asked for continued dedication of its staff to
meet its targets.
The final resolution considered the approval of Avenue Investments,
L.P. to become a holder of more than 20% of the common shares. With the
passing of this resolution, Avenue Investments converted all of its
outstanding debt for equity. This conversion strengthens Mint's balance
sheet and presents the company with a strong equity partner in the
capital markets.
The approved resolutions give Mint the endorsement of its shareholder
base to execute its business plan in the exciting sector of prepaid
credit cards.
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For further information please contact:
Dean Thrasher
Executive Vice President
416-581-0001 EXT. 241
dthrasher@mintinc.com
About Mint Technology Corp.
Mint is a leading payment solutions company. Through 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.
Forward-looking statements: Except for statements of historical fact,
all statements in this news release - including, without limitation,
statements regarding future plans and objectives, are forward-looking
statements that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those
anticipated in such statements.
The TSX Venture exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. News wire services or for dissemination in
the U.S.
Source: Mint Technology Corp. (TSX-V: MIT) www.mintinc.com
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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