Mr. Chris Hogg reports

MINT TECHNOLOGY ANNOUNCES SHAREHOLDER APPROVAL FOR PURCHASE OF SUBSIDIARY MINORITY INTEREST AND CONVERSION OF DEBT FOR EQUITY

At the extraordinary general meeting held by Mint Technology Corp., shareholders approved the purchase of the remaining 40-per-cent minority interest of its subsidiary, Mint Middle East LLC, and agreed to convert $1.5-million of debt into equity.

To facilitate this transaction, the corporation will issue 20 million units to Nabil Bader in exchange for 25 per cent of the membership interests in Mint Middle East LLC at a price of 12.5 U.S. cents per unit, each unit consisting of one common share of the corporation and one warrant, and each warrant being exercisable for one common share of the corporation at an exercise price of 15 cents at any time within two years following issuance of the warrant.

The corporation also announced the approval by the shareholders of the issuance of 10,714,285 common shares at a price of 14 U.S. cents to a corporation controlled by Mr. Bader in satisfaction of a promissory note for $1.5-million (U.S.) originally issued as part consideration for the purchase of assets from Waseela Equity LLC.

At the same meeting, the shareholders of the corporation also approved to pay in cash $500,000 (U.S.) and issue eight million units at a price of 12.5 cents per unit to Maher Kaddoura in exchange for 15 per cent of the membership interests in Mint Middle East LLC, each unit consisting of one common share of the corporation and one warrant, and each warrant being exercisable for one common share of the corporation at an exercise price of 15 cents at any time within two years.

Mint is now awaiting final approval from the TSX Venture Exchange to proceed with fulfilment of the approved transactions, following which the corporation will own 100 per cent of Mint Middle East LLC.

Mint's chairman, Chris Hogg, said today, "Moving to 100-per-cent ownership of Mint Middle East LLC now allows us to consolidate 100 per cent of the subsidiary's results at a time of organic growth and expansion through the acquisition of a prepaid card portfolio and recent contract wins previously announced."

Mr. Hogg also said, "Our due diligence to purchase a prepaid card portfolio in the Middle East as announced on May 19, 2011, is continuing and the transaction is scheduled to be completed on or before July 15, 2011."

We seek Safe Harbor.