Mr. Rishi Tibriwal reports

MINT ANNOUNCES PRIVATE PLACEMENT

The Mint Corp. proposes to raise (a) a minimum of $10-million and a maximum of $20-million through the sale of Series C debentures at par on a brokered private-placement basis; and (b) a minimum of $1-million and a maximum of $2-million from the sale of units on a non-brokered basis.

Debenture offering

Interest on the debentures will be 5.5 per cent per annum, payable quarterly in arrears. The debentures will come due on the third anniversary of closing. The debentures will be secured against the assets of Mint, the assets of Mint's United Arab Emirates wholly owned subsidiary Mint Capital LLC and all of the shares in Mint Gateway for Electronic Payment Services LLC, a company 49 per cent owned by Mint Capital LLC.

The company has engaged Portfolio Strategies Securities Inc. to act as agent for the debenture offering on a commercially reasonable efforts basis. The agent will receive a cash commission of 3 per cent of the gross proceeds raised in the offering. In addition, the agent will receive (a) 500,000 broker warrants if the amount raised is less than $15-million, (b) 750,000 broker warrants if the amount raised is between $15-million and $20-million, and (c) one million broker warrants if the amount raised is $20-million. Each broker warrant will be exercisable for one common share of the corporation at a price of five cents per share for a period of 36 months from the closing of the offering. The corporation has also agreed to pay the agent a work fee of $25,000.

The net proceeds of the debenture offering will be used (a) to complete the payments processing platform now being built by Mint Gateway for Electronic Payment Services LLC and (b) for working capital purposes.

As a condition of the debenture offering, Mint has committed to raise a minimum of $1.5-million from the issuance of common equity or debt ranking subordinate to the Series C debentures prior to or contemporaneous with the closing of the debenture offering.

The debenture offering is expected to close on or about June 4, 2015.

Unit offering

The unit offering is intended to satisfy the condition of the debenture offering described above. Each unit will consist of one common share of Mint and one-half of one common shares purchase warrant. Each warrant will be exercisable for one common share at an exercise price of five cents during the 18 months following the first closing.

The unit offering will be completed in one or more closings, the first of which will occur prior to or contemporaneously with the closing of the debenture offering. The closing of the unit offering is subject to stock exchange approval.