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News for Mint Technology Corp. |
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Breaking
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Mint Announcement
16:09 EDT Wednesday, July 26, 2006
FSC / Press Release
Mint Announcement
Toronto, Ontario CANADA, July 26, 2006 /FSC/ - Mint Technology Corp.
(MIT - TSX Venture), announces that its subsidiary, Mint Inc.,
commenced action today in the Ontario Superior Court of Justice at
Toronto against Peoples Trust Company (PTC) and HorizonPlus Card
Services Limited Partnership. The claim alleges that the defendants
breached the JV agreement entered into by the parties on or about
February 23, 2005, thereby discharging Mint Inc. from all further
obligations of payment and performance thereunder. By way of relief,
Mint Inc. seeks to recover money due to it from the defendants.
Mint Technology Corp. and its other subsidiaries, including Mint
Capital Corp., are not parties to the JV agreement. Nonetheless, PTC
claims that the prepaid card programs offered by Mint Capital Corp. is
in breach of the JV agreement. Mint Technology Corp. believes that
PTC's claims are without factual or legal merit.
For more information please contact:
Dean Thrasher
EVP Corporate Development
Mint Technology Corp.
Tel: 416.581.0001 ext. 241
Fax: 416.581.1527 (private)
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.
The TSX venture exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This news
release may include statements about future events and/or financial
statements that are forward looking in nature, subject to risks and
uncertainties
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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