Mr. Rishi Tibriwal reports

MINT PROVIDES CORPORATE UPDATE

The Mint Corp. is providing the following update.

Management changes

Mint is pleased to announce that Rishi Tibriwal has been appointed as the chief financial officer of the company, effective Nov. 24, 2014. Board and management wish to thank Terry Walter for his services to the company and assisting the company during a difficult restructuring. Mr. Walter will continue to stay involved in a management capacity in Mint Middle East LLC, the United Arab Emirates subsidiary of the company.

Mr. Tibriwal has over 20 years of experience in the finance field, including as a partner at a major international accounting firm serving clients with national and international operations. Mr. Tibriwal is a chartered professional accountant in Canada, and also holds a master in business administration and a chartered financial analyst designation. Most recently, Mr. Tibriwal was the chief financial officer at Carpathian Gold Inc., a Canadian public company with operations in Brazil and Romania.

Business update

Mint Middle East LLC (MME), the UAE subsidiary of the company, continues to make progress in implementing the new technology platform and significant work is currently being done in this regard. MME has signed a new agreement with a leading UAE bank. This agreement gives MME a new BIN (bank identification number) sponsorship relationship with a leading UAE bank with a large ABM network. MME is currently in the final stages of managing the switchover of its current card portfolio to the new BIN sponsor. MME's agreement with the UAE bank also incorporates the re-establishment and launch of the microfinance loan product to customers of MME. The loans will be financed by the UAE bank, and MME will earn a fee for sourcing and collections. MME is working with the UAE bank on the steps needed to launch this program.

After a strategic review, MME has decided to transition out from the e-voucher telecom distribution business currently operated through Mint Electronic Payment Services (MEPS). The company is in the final stages of executing this strategy and plans to divest its point-of-sale network. This move will reduce the operating losses of the company and free up working capital to redeploy on its payroll cards business.

Exercise of convertible debentures

On Nov. 21, 2014, Mint received notice from Gravitas Financial Inc. of its intention to convert $1,040,352 of the $2,326,508 face value of convertible debentures held by Gravitas into common shares of Mint at five cents per share. As a result of this conversion notice, Mint issued 20,807,037 common shares to Gravitas on Nov. 21, 2014. Subsequent to this issuance, Gravitas owns 50 per cent of the approximately 53.6 million issued and outstanding common shares of Mint.

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