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News for Mint Technology Corp. |
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Breaking
News
Mint Completes First Closing of Private
Placement
09:31 EST Wednesday, November 01, 2006
FSC / Press Release
Mint Completes First Closing of Private Placement
Toronto, Ontario CANADA, November 01, 2006 /FSC/ - Mint Technology
Corp. (MIT - TSX Venture), a payment solutions company, announced today
that it has completed an unbrokered private placement for gross
proceeds of $1,513,550. Pursuant to the private placement, Mint issued
21,622,142 units at $0.07 per unit, each unit consisting of one common
share and one-half of one common share purchase warrant. Each common
share purchase warrant entitles the holder to purchase one common share
for $0.14 for a period of 12 months from closing. If the weighted
average trading price of the common 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.
This is the first closing in relation to the proposed private placement
announced by Mint on September 12, 2006. A second closing is expected
to take place on or before November 30, 2006.
The warrants forming part of the units are non-transferable. The common
shares forming part of the units, and any shares issued upon exercise
of the warrants, are subject to a four month hold period which expires
on March 1, 2007.
Following completion of the private placement, there are approximately
60,110,000 issued and outstanding common shares of Mint.
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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 MasterCard(r) cards with unique
features such as co-branding and loyalty programs, and new wireless
payment alternatives such as; MasterCard cards with PayPass(tm)
functionality. The parent company Mint Technology Corp. is
headquartered in Toronto, Ontario. To find out more about Mint
Technology Corp. (TSX-V: MIT), visit our website at www.mint-technology.ca
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.
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
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