For Immediate Release
Mint Technology Corp. Announces Asset Sale of its Wholly Owned B2B E-Commerce Subsidiary
Asset Sale of the Subsidiary Finalizes the Steps in Streamlining the Company's Focus
Toronto, Ontario - September 6, 2007 Mint Technology Corp. (TSX: MIT-V) ("Company") announced today that further to its wholly owned subsidiary, Mint Commerce Inc., entered into an asset sale and purchase agreement with a privately held corporation dated August 3, 2007 for the sale of substantially all of its assets. Mint Commerce Inc. and the privately held corporation finalized the sale on August 31, 2007. The principal shareholders of the privately held corporation include certain former employees of Mint Commerce Inc.
By selling the assets of Mint Commerce Inc., the Company will be able to focus its resources on its core business. Frank Maduri, CEO of Mint stated, "The sale of the assets in Mint Commerce represents the final step in the implementation of our previously announced strategy of focusing on our prepaid credit card business”.
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For more information please contact:
Dean Thrasher
Executive Vice President
Mint Technology Corp.
Tel: 416.581.0001 ext. 241
Fax: 416.581.1527
dthrasher@mintinc.com
About Mint Technology Corp. (“Mint”): Through its wholly owned subsidiaries, Mint is a leading payment solutions company. With 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. www.mint-technology.ca
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
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