01:03:38 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Mint Corp (The)
Symbol MIT
Shares Issued 73,642,790
Close 2016-01-20 C$ 0.06
Market Cap C$ 4,418,567
Recent Sedar Documents

Mint amends Series A debentures

2016-01-20 16:32 ET - News Release

Mr. Rishi Tibriwal reports

MINT AMENDS ITS SERIES A DEBENTURES AND PROVIDES CORPORATE UPDATE

The Mint Corp. has obtained approval from the holders of its Series A debentures to the amendments to those debentures which were described in the company's news release of Jan. 4, 2016.

Prior to the amendments, the debentures had a par value of $1,103.81 each (being the original issue price of $1,000 per debenture plus the first year's interest on each debenture which was capitalized). As a result of the amendments, the company will issue $4,238,462 of debentures to the debentureholders, representing the capitalized interest, thereby reducing the principal amount represented by each debenture to $1,000. This issuance of debentures does not increase the principal amount of the debentures outstanding.

The company agreed to pay a restructuring fee to the holders of the debentures upon approval of the amendments to the debentures. The company will issue $3,953,506 of debentures as the restructuring fee, thereby increasing the principal amount of the outstanding debentures to $49,019,968.

The amendments to the debentures take effect as of Jan. 8, 2016. The amendment effective date is also the record date for purposes of determining holders of debentures entitled to receive capitalized interest debentures and the restructuring fee. Mint will repurchase any fractional debentures received by a debenture holder as either a capitalized interest debenture or as the restructuring fee.

Mint is also pleased to announce that Mint Middle East LLC, a company 51 per cent owned by Mint, has successfully migrated its card portfolio bank identification number to Abu Dhabi Islamic Bank, a leading financial institution in the United Arab Emirates. This represents another significant milestone for MME to further enhance its product offering in the marketplace.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.