Ms. Kym No reports

MINT SERIES A AND C DEBENTURES

The Mint Corp. will not have sufficient funds to pay the instalment of interest due on March 31, 2017, with respect to its Series A debentures and the instalment of interest due on March 31, 2017, with respect to its Series C debentures. The company has initiated discussions with the holders of those debentures to discuss a compromise.

Mint has three outstanding debenture series. The amount owing on the Series A debentures is $49,019,962 in principal and approximately $582,867 of accrued interest. The amount owing on the Series B debentures is $3,452,000 in principal, approximately $25,861 of accrued interest and bonus interest of $1,035,600. The amount owing on the Series C debentures is $10-million in principal and approximately $135,616 of accrued interest.

On Feb. 22, 2017, Mint announced that it did not have sufficient funds to pay the principal and interest on the Series B debentures due on March 7, 2017, and that Mint intended to make a proposal to the holders of its Series B debentures. Having regard to the amount owing on the Series A debentures and Series C debentures, and their security, Mint intends to approach the holders of the Series B debentures with a compromise proposal once Mint's discussions with the holders of the Series A and Series C debentures have evolved.

About The Mint Corp.

Mint is a vertically integrated prepaid card and payroll services provider with its own processing platform, automated teller machine network and proprietary branded card products delivered to unbanked workers in the United Arab Emirates. Mint operates as a payroll card and processing services provider in the UAE through its ownership in Mint Middle East LLC and Mint Gateway for Electronic Payment Services LLC.