Mr. Chris Hogg reports

MINT OVERSUBSCRIBES $6,000,000 PRIVATE PLACEMENT

Mint Technology Corp. has completed a subsequent drawdown of the $6-million private placement reported on March 24, 2011. A brokered private placement of units for gross proceeds of $187,500 and $563,765 closed on June 7 and June 9, 2011, respectively. Under the closings, Mint issued 6,010,120 units at 12.5 cents per unit. Each unit consisted of one common share and one common share purchase warrant. Each warrant is exercisable for one common share at an exercise price of 15 cents on or before May 31, 2013.

The net proceeds of the closings will be used for completing the acquisition of the card portfolio announced on May 19, 2011, and general working capital purposes. These closings, in conjunction with the closing for $3.1-million announced on May 26, 2011, bring the current total of the $6-million placement to approximately $3,851,265. The company has received further subscription agreements, which it intends to close in the next seven to 10 business days and which, together with the subscription for $1-million (U.S.) of units by Mint insider Maher Kaddoura announced on May 25, 2011, will oversubscribe the placement to approximately $6.2-million. One subscription for $500,000 is to close following the purchase of the minority interest in Mint Middle East LLC from Nabil Bader and Mr. Kaddoura, and Mint intends to apply for separate stock exchange approval of this subscription.

Tera Capital Corporation acted as agent in connection with the closings and Integral Wealth Securities Limited acted as an agent in connection with the June 9 closing. Tera Capital Corporation was paid a cash fee equal to 5 per cent of the gross proceeds of the closing on June 7, as well as 75,000 compensation warrants and a cash fee equal to 2 per cent of the gross proceeds of the closing on June 9, along with 90,202 compensation warrants. Integral Wealth was paid a cash fee equal to 5 per cent of the gross proceeds of the closing on June 9, as well as 225,506 compensation warrants. Each compensation warrant entitles the holder to acquire one unit for a price of 12.5 cents at any time until May 31, 2013. The units issued to the agent are on the same terms as the units issued under the offering.

The securities issued in the closings are subject to a hold period, which expires on Oct. 8, 2011 (as to 1.5 million units), and Oct. 10, 2011 (as to 4,510,120 units). Following completion of the closings, there are approximately 118,960,116 issued and outstanding common shares of Mint.

We seek Safe Harbor.