Mr. Nabil Bader reports
MINT CLOSES PRIVATE PLACEMENT
Mint Technology Corp. completed the private placement of $200,000 of secured 12-per-cent debentures on Dec. 14, 2012, together with 100,000 loan bonus common shares of Mint. The securities issued are subject to a hold period expiring on April 15, 2013.
Portfolio Strategies Securities Inc. received a cash commission of $6,000 (3.0 per cent of gross proceeds), and the agent will be paid a commission in common shares of Mint equal to 0.5 per cent of the gross proceeds, priced at the 45-day volume-weighted average price of Mint's common shares on Dec. 14, 2012.
This closing is the fifth and final tranche of the private placement announced on Sept. 11, 2012. The total amount raised in the private placement was $4,786,500 (Canadian) and $300,000 (U.S.).
The company wishes to correct an error in the press release of Dec. 4, 2012, which announced that 802,282 agent's shares were received by the agent in connection with the fourth tranche, when in fact 80,015 agent's shares were received.
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