Mr. Pierre Gagnon reports

MINT ANNOUNCES PARTNERSHIP TO STRENGTHEN ITS MIDDLE EAST OPERATIONS AND CORPORATE UPDATE

The Mint Corp. has provided the following update.

Agreement with Global Business Services

Mint is pleased to announce that it has entered into an agreement under which GBS will subscribe for a 49-per-cent interest in Mint Middle East LLC for $900,000 (U.S.). That agreement amends the agreement in principal announced in a press release dated Jan. 8, 2014.

Over the last six months, GBS has taken a leadership role in restructuring and stabilizing the MME operations in the United Arab Emirates and creating a path for the future while the company went through a financial restructuring and refinancing in Canada. Some of the significant actions taken by GBS include consolidating Mint's offices in the UAE, negotiating with creditors and employees, reaching out to key partner financial institutions and vendors to win their continued co-operation, maintaining the bank guarantee of 7.5 million dirhams (which allowed the mobile top-up business of Mint Electronic Payment Services LLC to survive), and keeping the regulatory authorities in the UAE on side while MME was unable to meet salary and other obligations during the restructuring process.

To compensate GBS for the work done so far in ensuring that Mint's UAE operations survived the difficult restructuring and to allow GBS to become a partner, Mint has paid GBS $3-million (U.S.) and $2.5-million (Canadian), and GBS has invested $900,000 (U.S.) to subscribe for a 49-per-cent ownership interest in MME. An additional $435,000 (U.S.) will be paid by Mint to GBS on or before May 16, 2016. GBS has also agreed to purchase $100,000 (U.S.) of common shares in Mint through the public market.

So long as GBS owns not less than 49 per cent of MME and Mint owns directly or indirectly not less than 51 per cent of MME, GBS shall be entitled to name a nominee for election to the board of directors of Mint, and Mint will include that nominee among the slate of directors proposed by management.

Mint believes this partnership with GBS will open significant business development opportunities, reduce the risk associated with the company's UAE operations by having a partner from the region and strengthen the current business platform. Mint believes this is essential for the company to become profitable and create significant future value.

Mint is currently negotiating a continuing management agreement with GBS for its services to MME.

Board and management changes

Mint also announces the resignation of Nabil Bader as a director the company and all of its subsidiaries. The company is thankful for Mr. Bader for his contributions to the company. Mr. Bader brought tremendous vision to Mint and also played a leadership role in establishing the wages protection system in the UAE. That system is now gaining traction in surrounding countries. The WPS is a law that requires businesses covered by it to pay wages to workers electronically through methods that can be verified. Such methods typically involve direct deposit either to a bank account or a prepaid card. One of the main drivers of the WPS is to remove the risk of defaults in the payment of wages to migrant workers who represent a large and important part of the labour force in the Gulf economies.