Ho Hum a minor amount of money exchanged to settle the debt of the company {sarcasym alert}
"("Mint" or the "Company") is pleased to announce that further to its press release dated May 6, 2021, it has entered into a debt settlement agreement with Mobile Telecommunications Group LLC ("MTG"), Global Business Services for Multimedia ("GBS" and together with MTG, the "Creditors"), Mint Middle East LLC ("MME"), and Mint Gateway for Electronic Payment Services ("MGEPS"), dated August 31, 2021 (the "Debt Settlement Agreement").

Terms of Debt Settlement

Pursuant to the Debt Settlement Agreement, the Company will settle the following debts which are currently outstanding (the "Debt Settlement"):

Approximately C$20,000,000 in aggregate principal of outstanding series A debentures (plus all accrued and unpaid interest) held by the Creditors;
Aggregate debt of approximately C$7,000,000 in principal (plus all accrued and unpaid interest) comprised of:
Convertible subordinate secured debentures and an unsecured promissory note; and
Certain loans payable to the Creditors.
In total, the Company anticipates that it will settle an aggregate of approximately C$30,000,000 of debt burden upon closing of the Debt Settlement through a one-time cash payment or through a payment in kind of certain assets received from MME or MGEPS, or a combination of the foregoing, in the amount of US$10,000,000 to the Creditors pursuant to the terms and conditions of the Debt Settlement Agreement.

In addition, pursuant to the terms of the Debt Settlement Agreement, and in consideration for the Debt Settlement, MME and MGEPS will settle the following debts owing to the Company and Creditors:

Approximately C$42,000,000 owing to the Company (such amount has been written-off in the financial statements of the Company) that was previously provided to MME and MGEPS in the form of non-interest bearing inter-company transfers since its initial acquisition by the Company to be settled by a payment of US$11,000,000 to the Company and
Approximately C$6,500,000 of principal and any accrued interest therein owing to MTG by MGEPS will be cancelled.
As a result, MME and MGEPS will make a one-time cash payment of US$11,000,000 to the Company, and the balance of these funds that are not used in connection with the Debt Settlement, will be used for working capital purposes of the Company.

The completion of the Debt settlement is subject to the satisfaction of certain conditions of the Debt Settlement Agreement, including but not limited to, approval of the Debt Settlement by the TSX Venture Exchange (the "TSXV"), the Debt Settlement receiving Minority Shareholder Approval (as defined below), and any other regulatory and third party approvals as may be required in the United Arab Emirates. The anticipated closing date of the Debt Settlement on or before December 31, 2021, or such other date as agreed to by the parties. There is no assurance that the Debt Settlement will be completed.

Vishy Karamadam, Chief Executive Officer of the Company, commented on the Debt Settlement Agreement: "Executing the Debt Settlement Agreement on attractive terms for the Company's minority shareholders is a win and significant milestone for the Company. I urge the shareholders to approve the Debt Settlement in the upcoming shareholders meeting. Fintech companies are well received in the public markets, and an equity funded balance sheet significantly helps such companies achieve its goals. Unfortunately, the Company has historically been funded with debt that held the Company back from realizing its full potential, and this is an opportunity to clean up the balance sheet and position the Company to execute on its business plan."

MI 61-101 Special Transaction

MTG is a wholly-owned subsidiary of GBS, which is a "control person" of the Company. Accordingly the Debt Settlement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Holders in Special Transactions ("MI 61-101"). The Company will rely on the exemption from the valuation requirement pursuant to subsection 5.5(g) of MI 61-101 (financial hardship). The Company's decision to rely on the financial hardship exemption was made upon the recommendation of the independent directors of the Company, all of who are unrelated to the parties involved in the Debt Settlement, with respect to the merits of the Debt Settlement and the resulting approval of the entering into of the Debt Settlement Agreement by the board of directors of the Company. Pursuant to MI 61-101, the Company will seek approval of the majority of minority shareholders ("Minority Shareholder Approval") of the Company with respect to the Debt Settlement at its upcoming annual general and special meeting of shareholders to be held on September 30, 2021 (the "Meeting").

A copy of the form of Debt Settlement Agreement was attached to the management information circular of the Company dated August 31, 2021 with respect to the Meeting, and will be available on the Company's SEDAR profile at www.sedar.com.

ABOUT MINT

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, United Arab Emirates. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by MasterCard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers"

[b.]PROPOSED AGREEMENT OF SETTLEMENT OF DEBTS if ratified would give life to MIT. Shareholders should agree to the terms so the company can move forward free from crushing debt.
("Mint" or the "Company") announces that the Company and its subsidiaries, Mint Middle East LLC ("MME") and Mint Gateway for Electronic Payments LLC ("MGEPS"), (collectively, MME and MFEPS, shall be referred to as "Mint UAE") have entered into a letter of intent (the "Agreement") with Mobile Telecommunications Group LLC ("MTG") and Global Business Services ("GBS") in connection with a restructuring and repayment arrangement in respect of all outstanding debts owing amongst and as between these entities (the "Proposed Transaction").
As a result, it is anticipated the aggregate amount of the MIT Debts of approximately CAD$30MM will be settled in full on closing of the Proposed Transaction by way of a cash payment in the aggregate amount of USD$10MM (the "MIT Debt Settlement").
The Proposed Transaction is subject to the parties entering into a definitive agreement which shall contain such representations, warranties and closing conditions as customary for a transaction of this nature. The closing date of the Proposed Transaction is September 30, 2021 or such other date as agreed to by the Parties and is subject to certain conditions, including (without limitation), approval of the board of directors of each of the Parties and the shareholders of the Company, approval of the TSX Venture Exchange ("TSXV") and any other regulatory and third party approvals as may be required in the United Arab Emirates.

There can be no assurance that the Proposed Transaction will be completed.

Shareholder Approval

The Proposed Transaction is considered a "related party transaction" for purposes of Multilateral Instrument 61-101 ? Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 ? Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange ("TSXV") as GBS and MTG and their affiliates beneficially own approximately, 59% of the issued and outstanding common shares of the Company.As a result,minority shareholder approval pursuant to MI 61-101 will be required for the Proposed Transaction which will be voted on at a special shareholders meeting to be held in the summer of 2021 pursuant to a notice of meeting to be issued by way of a further press release or posting on SEDAR.

Vishy Karamadam, CEO of The Mint Corporation commented: "The Proposed Transaction if completed would represent a significant restructuring of the Company as it would effectively leave the Company debt-free and position the Company well to execute the business strategy and enhance shareholder value."

Management attempting to reach more USA exposure. Can't hurt.
"(“Reliq” or the “Company”), a rapidly growing digital health company that develops innovative Virtual Care software as a service (SaaS) solutions for the Community Healthcare market has retained Lytham Partners, LLC ("Lytham Partners") to lead a U.S. investor relations program.

For more than 20 years, Lytham Partners has been one of the industry’s leading investor relations firms in the U.S., having created one of the largest and most diverse networks of institutional investors, while creating a framework of best practices in all aspects of corporate and shareholder communications.

“We made significant progress in 2020 in the United States by increasing our penetration beyond our historical markets of Florida and South Texas,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “We are now working with clients across the U.S. and have a clear path to cashflow positive in Q1 2021. Given our recent progress and anticipated growth in 2021, we believe that this is an opportune time to increase awareness of our company within the U.S. investment community. We look forward to working with the team at Lytham Partners, which has a strong understanding of the healthcare technology space and a proven track record of helping public companies communicate their story to the largest and most relevant cross section of institutional investors."

Ben Shamsian, Vice President of Lytham Partners, said, "Given Reliq’s fast growing and diversified customer base across the United States, we believe the U.S. investment community will be interested to learn more about their unique value proposition and opportunities ahead to create value for shareholders. We look forward to introducing the Company to our platform of investors while keeping shareholders apprised of the developments taking place at the Company."

In connection with the engagement, Lytham Partners will be compensated USD $6,000 per month.

The Company also announces the granting of stock options under its Stock Option Plan to purchase an aggregate of 500,000 common shares of the Company at an exercise price of $0.415 per share for a five year term. The stock options were granted to the CFO of the Company pursuant to Reliq’s Stock Option Plan and the policies of the TSX Venture Exchange and vest over one year.

About Lytham Partners
For more than 20 years, Lytham Partners has been one of the country's leading investor relations firms, having created one of the industry's largest and most diverse networks of institutional investors, while creating a framework of best practices in all aspects of corporate and shareholder communications. In addition to their relationships with many of the industry's most respected institutional investors, Lytham Partners has spent the past two decades creating an integrated platform that allows its clients far reaching exposure to investors in a consistent and in-depth format. This platform is matched with a communications and positioning approach that is streamlined throughout press releases, conference calls, investor presentations, corporate profiles, and websites"

Finally from today's filing of M&A of MIT we get some better idea of the trials and tribulations facing management.
here are some comments. I suggest shareholders should read the whole available filings
"in Management Discussion and Analysis for the three and six months ended June 30, 2020 and 2019 Page 5 of 28 The Corporation has incurred several years of losses and as at June 30, 2020, has a cumulative deficit of $72,223,622 (December 31, 2019 - $74,872,716); working capital deficit of $8,628,356 (December 31, 2019 – the working capital deficit of $7,030,344); negative cash flow from operations for the six months ended June 30, 2020 of $494,298 (for the six months ended June 30, 2019 - $623,051); and has a shareholders’ deficiency of $20,551,542 (December 31, 2019 - $23,210,066). The Corporation will need to secure additional financing in order to meet the Corporation’s requirements for funding of the business plan and pay its obligations as they come due. There is no assurance that these initiatives will be successful. These conditions represent material uncertainties that may cast significant doubts about the Corporation’s ability to continue as a going concern. These financial statements do not reflect adjustments to the carrying value of assets and liabilities or reported expenses and balance sheet classifications that would be necessary if the going concern assumption was not appropriate. These adjustments could be material. The Corporation’s ability to continue as a going concern has always depended on the ability of management to raise capital and issue debt in the market. The outcome of these initiatives cannot be predicted at this time. In the short term, the Corporation’s focus is on supporting the market development of the UAE Operations given Mint’s significant investment to date in the development of a versatile, full-stack technology platform, the existing base of customers, and the untapped market opportunities with underserved businesses and consumers. Within Mint UAE, there are four main areas of focus for 2020
In 2020 Mint is evaluating opportunities to “transplant” the technology and expertise from the Mint UAE Operations to the Canadian market, as the technology platform is globally-compliant within the payment industry. The evaluation of opportunities is ongoing and at the early stages. Mint has not yet generated operating profits. Longterm continuance of the Corporation’s operations is dependent upon achieving profitable operations and, until that occurs, the Corporation will rely on additional equity or debt financing from various sources which could include funding from its affiliates, its majority shareholder or financing sources in Canada.
The transition of Mint, from a program manager on the front-end of card issuing business relying on third parties to do the processing, to being a full service card issuing, processing and acquiring platform is a game changer in terms of the scale and scope of offerings that Mint can bring to the market place. Following the divestiture of the payroll card business, Mint will shift its strategic focus from the payroll card product focused on unbanked migrant workers to launching a digital banking platform that can be offered both as a white label product offering for other banks and or financial institutions and as a direct service to personal and small business clients. This digital banking platform in conjunction with our card management platform, payment gateway and merchant management platforms will round out Mint’s technology across the full spectrum to service banks, small business clients and personal clients. The initial focus will be on UAE market and then to expand regionally and into North America. Given the range of technology now available and being developed Mint has the flexibility to develop and focus on the unique needs of each market.

The company must reduce its debt to maintain its existence. At least this transaction goes into strong friendly hands
("Mint" or the "Company") today announced that it has entered into a shares for debt agreement, pursuant to which the Company proposes to issue 19,918,258 common shares at a deemed price per common share of $0.05 (the "Shares for Debt Settlement") to satisfy $995,912.87 of indebtedness currently owing to Mobile Telecommunication Group LLC ("MTG"). The indebtedness is pursuant to accrued and unpaid interest on the Series A debentures of the Company held by MTG.

MTG is a wholly-owned subsidiary of Global Business Services for Multimedia ("GBS"), which is a control person of the Company. Accordingly, the Shares for Debt Settlement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Holders in Special Transactions ("MI 61-101"). The Company will rely on the exemption from the valuation requirement and the minority approval requirement pursuant to subsections 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities will not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101. The participation by MTG in the Shares for Debt Settlement has been approved by directors of the Company who are independent in connection with such transaction.

The Shares for Debt Settlement is subject to the approval of the TSX Venture Exchange. The common shares issued pursuant to the Shares for Debt Settlement will be subject to a four month hold period from the date of issuance.

A material change report will be filed less than 21 days before the closing date of the Shares for Debt Settlement. The Company believes this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position by reducing its accrued liabilities as soon as possible.]

From their M&A Plans for the future "Mint has a fully certified global payments platform that is the foundation to build a scalable and globally competitive
business. The Corporation is at an inflection point to add new customers and products and offer value added
services to our customers in a seamless and frictionless manner. Mint is continuing to pursue this strategy.
The transition of Mint, from a program manager on the front-end of card issuing business relying on third parties to
do the processing, to being a full service card issuing, processing and acquiring platform is a game changer in
terms of the scale and scope of offerings that Mint can bring to the market place. Following the divestiture of the
payroll card business, Mint will shift its strategic focus from the payroll card product focused on unbanked migrant
workers to launching a digital banking platform that can be offered both as a white label product offering for other
banks and or financial institutions and as a direct service to personal and small business clients. This digital banking
platform in conjunction with our card management platform, payment gateway and merchant management
platforms will round out Mint’s technology across the full spectrum to service banks, small business clients and
personal clients. The initial focus will be on UAE market and then to expand regionally and into North America.
Given the range of technology now available and being developed Mint has the flexibility to develop and focus on
the unique needs of each market."

A very positive message from management , that clarified the changed status of MIT.
"As we navigate these turbulent times, we wanted to give you an update on how we believe The Mint Corporation (TSXV: MIT) ("Mint") is well positioned for 2020 and beyond. We would like to highlight several significant developments over the past few months and our current plans to further build our business.

New Majority Shareholder

At the end of December 2019, Global Business Services for Multimedia ("GBS"), Mint's business partner in the United Arab Emirates ("UAE"), became majority owner of Mint through its purchase of the Mint common shares formerly held by Gravitas Financial Inc. ("GFI"). Mint welcomed this development as it now brings a greater alignment and presents new opportunities to leverage the Mint UAE's technology platform for launching in North America.

Sale of Payroll Card Disbursement Business Provides Capital for Higher-Value Opportunities

In January 2020, Mint's subsidiaries Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") successfully entered into a transaction for the sale of Mint UAE's payroll card disbursement business (the "Sale") to a major international payments company. As we disclosed in our press release on February 4, 2020, Mint UAE received an initial cash payment of approximately C$29.5 million and has the potential to earn an additional performance-based cash payment of up to approximately C$7.1 million based on the success of the migration of the payroll card portfolio. Notably, Mint UAE retained all its intellectual property, its globally certified payment platform, customer relationships and the team to continue to execute on our business plan (other than the payroll card program manager business for which there is a three year non-compete agreement with the buyer).

Mint does not need to raise capital to fund Mint UAE

Prior to the Sale, Mint's primary use of capital was to provide funding to support the Mint UAE operations. With the conclusion of the Sale, Mint UAE is well capitalized to execute on its business plan to focus on higher value opportunities, and Mint does not anticipate having to provide further cash funding to support the Mint UAE operations. Based on public information of similar payroll card transactions, the Sale was conducted at a premium valuation. The successful exit of one of its product lines at a premium valuation validates the execution capability of the management team and demonstrates the significant value of Mint.

Current Financial Technology Capabilities

Mint today is a fintech enterprise with several notable strengths, including:

Seasoned and strong team with a track record of execution and creating value
Cash on hand to execute its business plan to build value
Mobile app enabled card management platform
Cloud-based merchant management services
Acquiring and payment gateway platform
Corporate Direction

Following the Sale and a review of opportunities to capitalize on Mint's technology, Mint intends to shift its strategic focus to launching merchant management services targeted at small business, mobile enabled prepaid card products such as multi-currency and general purpose prepaid cards integrated with a digital banking platform that can be offered both as a white label product offering for other banks and/or financial institutions, and as a service to personal and small business clients in partnership with licensed financial institutions in the UAE.

This digital banking platform, in conjunction with our card management, payment gateway and merchant management platforms, will round out Mint's technology across the full spectrum to service financial institutions, small business clients and personal customers. The initial focus will be on the UAE market, following which we intend to expand within the Gulf Region and into North America. Given the scope of the Mint technology now available and being developed, Mint has the flexibility to develop and focus on the unique needs of each market.

As always, we would like to thank our shareholders for your continued belief and support as we focus on providing excellent services to our customers and building value for all shareholders.

Sincerely,

Vishy Karamadam
CEO - The Mint Corporation

About Mint

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company based in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported through its payment's platform certified by MasterCard and UnionPay. Mint brings modern financial conveniences, at reasonable cost, to financial institutions, merchants and consumers.

Forward looking Statements

This Letter to the Shareholders contains forward-looking statements. Forward-looking information includes the statements relating to the amount of an additional performance-based cash payment pursuant based on the success of the migration of the payroll card portfolio, that Mint does not anticipate having to provide further cash funding to support the Mint UAE operations, Mint's intention to shift its strategic focus to launching merchant management services targeted at small business, mobile enabled prepaid card products such as multi-currency and general purpose prepaid cards integrated with a digital banking platform that can be offered both as a white label product offering for other banks and/or financial institutions, and as a direct service to personal and small business clients in partnership with licensed financial institutions in UAE and Mint's initial focus on the UAE market and intent to expand within the Gulf Region and into North America. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

The forward-looking statements are based on certain expectations and assumptions made by Mint. Although Mint believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because Mint can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks, including, but not limited to, the ability of Mint UAE to successfully migrate the payroll card portfolio pursuant to the Sale, the ability of Mint and Mint UAE to execute on its business plan and the required expenditures to execute its business plan, the ability of Mint and Mint UAE to launch digital banking services, payment gateway services and execute agreements with licensed financial institutions and meeting the regulatory requirements in UAE or any other market Mint may choose to enter and the duration and effects of the COVID-19 pandemic on local, national and global economies. The forward-looking statements contained in this Letter to the Shareholders are made as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws."

MIT Trading at the open today!

Finally we will be returning to listing for trading
"("Mint" or the "Company") today announced that it has received final approval from the TSX Venture Exchange (the "TSXV") of the sale by the Company's subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") of Mint UAE's direct payroll disbursement service business in the United Arab Emirates (the "Transaction"). TSXV conditional approval of the Transaction was announced by Mint in a press release issued on April 24, 2020.

TSXV final approval of the Transaction was subject to a number of conditions which have been satisfied by the Company, including receipt by the Company of the written consent of the holders of more than 50% of the issued and outstanding common shares of the Company. The TSXV has informed the Company that all conditions have now been satisfied to allow trading to resume of the Company's common shares, and accordingly, the shares are anticipated to resume trading on May 19, 2020.

ABOUT MINT

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers."

Further delay in trading
" ("Mint" or the "Company") today announced in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the "Blanket Exemption Order"), which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posted by the COVID-19 pandemic, that it will be delaying the filing and delivery of certain of its continuous disclosure documents.

The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its annual financial statements and related management discussion and analysis for the year ended December 31, 2019 (collectively, the "Required Annual Filings"), and (ii) compliance with the delivery requirements of applicable securities laws relating to the Required Annual Filings. The officers and directors of the Company and certain other persons will remain subject to a trading black-out pursuant to which such persons are prohibited from trading in any securities of the Company until the end of the second full trading day following the day on which the Required Annual Filings are filed on SEDAR and a corresponding news release is issued by the Company.

The Company currently intends to make the Required Annual Filings by June 11, 2020.

Since the filing of the Company's third quarter 2019 interim financial statements and related management discussion and analysis on November 27, 2019 and refiled December 23, 2019, the Company has disclosed by way of news release or filings on SEDAR, the following significant business developments:

the appointment of Ms. Rebecca Ong as a director of the Company as of November 29, 2019;
the appointment of Mr. Firas Al Fraih as a non-voting observer to the board of directors of the Company on January 6, 2020;
the announcement on January 6, 2020 of the filing of an Early Warning Report regarding the acquisition of securities of the Company by Global Business Services for Multimedia ("GBS") and Mobile Telecommunication Group LLC ("MTG" and together with GBS, the "Acquirors") from Gravitas Financial Inc. ("Gravitas") and the fiduciary acting on behalf of the beneficial holders of substantially all of Gravitas' secured debt. Immediately following completion of the transaction, the Acquirors beneficially owned 109,670,736 Mint common shares representing about 56% of the issued and outstanding Mint common shares on an undiluted basis. The transaction represented a change of control of Mint;
an amendment dated January 6, 2020 between GBS, MTG and Mint amending the trust indenture (the "Trust Indenture") pertaining to the Company's Series A debentures;
on January 11, 2020 the appointment of Mr. Firas Al Fraih as a director of the Company and the resignation of Mr. Neil Gilday as a director;
on February 4, 2020, the Company announced that is subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") entered into a binding asset purchase agreement (the "Asset Purchase Agreement") dated January 16, 2020 to divest its direct payroll disbursement service business through its payroll card portfolio in the United Arab Emirates. Pursuant to the terms of the Asset Purchase Agreement, Mint UAE is entitled to receive aggregate net cash consideration of up to AED 102,750,000 (approximately C$36,600,000), comprised of an initial payment of AED 82,750,000 (approximately C$29,500,000) and a performance-based maximum additional cash payment of up to AED 20,000,000 (approximately C$7,100,000) based on the success of the migration of the card portfolio. The buyer has made the initial payment to Mint UAE. The Asset Purchase Agreement provides for a migration period of approximately nine months from the closing date and includes an obligation of Mint UAE to deliver a financial performance bank guarantee and customer representations, warranties, indemnities and covenants typical for a transaction of this nature. The transaction has received the consent of the holders of the Company's Series A debentures and is subject to approval by the TSX Venture Exchange. Trading in the Company's shares will remain halted until the TSX Venture Exchange requirements to allow trading to resume are met;
a further amendment dated April 6, 2020, effective as of December 31, 2019, was made to the Trust Indenture which amended the Trust Indenture to, amongst other things, remove the definition of change of control, change the non-cash payment of interest from subscription receipts to common shares, and waive any interest payment breaches relating to the December 31, 2019 and March 31, 2020 interest payments. The Company is in the process of issuing Mint common shares to MTG, the holder of the Series A debentures, as payment for these interest amounts owing, subject to approval by the TSX Venture Exchange."

This new deal will allow MIT to be listed for trading. The sum being received is substantial. We can only hope that what the company is left with will be as successful.
"Mint Reaches Agreement to Divest Its Payroll Card Portfolio

Toronto, Ontario--(Newsfile Corp. - February 4, 2020) - The Mint Corporation (TSXV: MIT) ("Mint" or the "Company") announces that its subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively "Mint UAE") have entered into a binding asset purchase agreement dated January 16, 2020 (the "Agreement") to divest its direct payroll disbursement service business through its payroll card portfolio in the United Arab Emirates ("UAE") (the "Transaction") to a leading payroll disbursement and card provider in the UAE (the "Buyer"), a party arm's length to the Company and Mint UAE. Mint UAE will remain focused on payment card processing and prepaid card products across multiple verticals including gift, prepaid, multi-currency and other industry segments excluding payroll cards.

Pursuant to the terms of the Agreement, Mint UAE is entitled to receive aggregate net cash consideration of up to AED 102,750,000 (approximately C$36,600,000) (the "Purchase Price"), comprised of an initial payment of AED 82,750,000 (approximately C$29,500,000) (the "Initial Payment"), and a performance-based maximum additional cash payment of up to AED 20,000,000 (approximately C$7,100,000) based on the success of the migration of the card portfolio. Mint UAE has received the Initial Payment as a result of the satisfaction of certain conditions precedent to the Transaction, being the receipt of certain third-party consents and the completion by the Buyer of its diligence with respect to the business of Mint UAE.

The Agreement provides for a migration period of approximately nine months from the Closing Date and includes an obligation of Mint UAE to deliver a financial performance bank guarantee in connection with the Purchase Price and customary representations, warranties, indemnities and covenants typical for a transaction of this nature. In particular, the Agreement contains a three year non-compete clause specific to payroll card program manager business in the UAE by the Mint UAE companies, by Global Business Services for Multimedia ("GBS") the Company's principal shareholder and local UAE partner, and to Mr. Abdul Razzaq Al Abdullah in his personal capacity. GBS manages the operations of the Mint UAE companies pursuant to a management agreement with the Company which will continue subsequent to the completion of the Transaction.

The Transaction has received the consent of the holders of the Company's Series A debentures and is subject to approval by the TSX Venture Exchange pursuant to Policy 5.3 of the TSX Venture Corporate Finance Manual. Trading in the Company's shares will remain halted until the TSX Venture Exchange requirements to allow trading to resume are met. The Transaction may require approval of the shareholders of the Company.

Mint UAE has been consciously investing in digital solutions with aspirations to create a central omni-channel Digital Banking Platform to orchestrate customer interactions across multiple touchpoints. Mint UAE has been developing various services of the Platform including: digital on-boarding of customers, digital KYC (Know Your Customer), authentication, payment gateway solutions, and in-store digital solutions such as mPOS and virtual POS to unbanked merchants.

"Mint UAE's platform straddles the entire payment ecosystem of issuing, processing, payment gateway and merchant management services. This Transaction will enhance the financial position of the Company and complements the business strategy," states Vishy Karamadam, CEO of The Mint Corporation.

Mr. Abdulrazzaq Al Abdullah, representing GBS said: "What we are seeing in our time is unique - we are witnessing platformization. Globally, huge companies like Google and, Amazon have been winning because they don't merely provide products or services. Instead, they aggregate a range of products and services to create a digital-first platform that enriches people's lives. We are also witnessing consolidation of various financial institutions in the region. With time our business activities have grown immensely. Starting from being just a payroll service provider, we have become a multi-channel third party payment service provider offering issuing, acquiring and transaction processing services and continuing with the aggregation model to create a digital platform with a host of services. We would like to thank Mint UAE customers as this would not have been possible without their continued loyalty and support."

PERHAPS SHARES WILL BECOME TRADING AFTER THIS NEWS.

"Mint Corp. 2,916,640 shares for debt
Shares Issued 197,141,827
The TSX Venture Exchange has accepted for filing the company's proposal to issue 2,816,640 shares to settle outstanding debt for $140,832.

Number of creditors:six creditorsInsiders:Brian Hendry, $24,500, 490,000 shares at five cents; Vishy Karamadam, $30,000, 600,000 shares at five cents; Vikas Ranjan, $15,000, 300,000 shares at five cents

The company shall issue a news release when the shares are issued and the debt extinguished."

Arather long halt to make this announcement, not sure why. " ("Mint" or the "Company") wishes to announce that Mr. Neil Gilday has resigned his position as a director of Mint effective January 11, 2020. "On behalf of the board, I thank Neil for his contribution and wish him all the best in the future," said Vishy Karamadam, CEO of Mint.

Mint is pleased to announce that Mr. Firas Al Fraih, a senior officer and director of Global Business Services for Multimedia ("GBS") and Mobile Telecommunication Group LLC ("MTG") (the new majority shareholders of Mint) has joined as a director of the Company as of January 11, 2020. "On behalf of the board of directors and shareholders, we welcome Firas to our board and look forward to working closely with him as Mint is looking to regain growth momentum. Firas joining the board shows the commitment of GBS to Mint," said Vishy Karamadam, CEO of Mint.

ABOUT MINT

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, United Arab Emirates. Through its mobile-enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to merchants and consumers."

Hopefully this action will bring the stability to management that is needed to justify higher share pricing
"The Mint Corporation (TSXV: MIT) ("Mint") announces that Global Business Services for Multimedia ("GBS") and Mobile Telecommunication Group LLC ("MTG" and together with GBS, the "Buyers"), have issued an early warning news release announcing their acquisition of certain securities previously issued by Mint and debts of Mint, including: (i) 109,670,736 common shares of Mint ("Common Shares"); (ii) 16,000,000 subscription receipts of Mint (the "Subscription Receipts") exercisable for 16,000,000 Common Shares for no additional consideration; and (iii) $20,000,000 principal amount of Series A debentures of Mint (the "Debentures"), being all of the Series A debentures. The Common Shares being purchased represent 56% of the outstanding common shares of Mint on a non-diluted basis (60% if the Subscription Receipts were to be exercised). A copy of the early warning news release has been filed in SEDAR under Mint's profile.

Mint also announces that the Buyers and Mint have entered into an agreement to amend the trust indenture under which the Debentures have been issued (i) to remove a provision in the trust indenture which results in the Debentures becoming due and payable upon a change of control in Mint, and (ii) to permit the payment of interest in the form of common shares rather than subscription receipts exercisable for Common Shares for no additional consideration. The amendments will require formal approval by the Buyers in compliance with the procedures under the trust indenture. Pending formal approval, the Buyers have agreed to waive any demand or default under the trust indenture which might otherwise arise out of the change of control described above or the failure to pay the installment of interest due on December 31, 2019."

A welcome letter from management that should give confidence to shareholders re the new controlling entities of the company.

" The Mint Corporation (TSXV: MIT) ("Mint" or the "Company") today released the following letter to shareholders.

Dear Shareholders,

Mint management feels that it is important to provide shareholders with further clarity on the press release issued on Sept 27, 2019 titled "Mint Announces a Definitive Share Purchase Agreement and Interim Funding Agreement". The transaction described in the above-mentioned press release (the "Proposed Transaction") was an outcome of a Sales and Investment Solicitation Process (SISP) that was undertaken by the majority shareholder of Mint and managed by external advisors. Mint supported the SISP process as first disclosed in a press release dated June 5th, 2019.

This potential change in Mint's significant stakeholder was a consuming exercise for Mint's management team. Throughout the SISP process, Mint was able to ensure that the current business continued to perform while certain new initiatives were delayed until the SISP process was completed.

Management believes that the Proposed Transaction is the best outcome from the SISP process. A Share Purchase Agreement has been signed which, upon closing, will result in the transfer of the majority ownership in Mint to Global Business Services for Multimedia ("GBS"), a long-standing partner of Mint in the UAE, and its affiliate, Mobile Telecommunication Group LLC ("MTG" and together with GBS, the "Purchasers"). The Purchasers will acquire certain equity and indebtedness, as described in the press release issued on September 27, 2019, for an aggregate purchase price of $6,590,000, showing their continued commitment and belief in the value of the business, which is represented by Mint. The Proposed Transaction includes an interim funding agreement to support the business through to closing or termination of the Proposed Transaction.

Mint management views the Proposed Transaction as beneficial to advance Mint's business in the UAE. The greater alignment with our partner GBS may also open new possibilities for Mint, including the offering of its globally certified technology stack in Canada and the Americas.

Mint management believes that, once completed, the Proposed Transaction will remove the uncertainty now surrounding the Company's ownership and will lead to better prospects for the Company."

This could be a major transaction that saves the company!
Completes the takeover of the company and solves the liquidity problem of MIT.
Of interest the Placements at .10 per share sets a bottom of valuation and shareholders should assume the buyers expect significant higher values to be achieved. Lets's hope they are right!

"Mint") announces that Gravitas Financial Inc. (CSE: GFI) ("Gravitas") has entered into a securities purchase agreement (the "Purchase Agreement") with Global Business Services for Multimedia ("GBS") and Mobile Telecommunication Group LLC ("MTG" and together with GBS, the "Buyers"), and the fiduciary, acting on behalf of the beneficial holders of substantially all of Gravitas' secured debt (the "Debtholder" and together with Gravitas, the "Sellers") pursuant to which the Buyers will acquire: (i) 109,670,736 common shares of Mint; (ii) 16,000,000 subscription receipts exercisable for 16,000,000 common shares of Mint for no additional consideration, (iii) 11,700,000 warrants to purchase 11,700,000 common shares of Mint at an exercise price of $0.10 per share, (iv) Gravitas' interest in any outstanding loans or other indebtedness of Mint and its associates (being loans and indebtedness of approximately $13,333,559); and (v) certain securities of Mint registered in the name of or otherwise controlled by the Debtholder, all in consideration for an aggregate purchase price of $6,595,000 less certain expenses of Mint that are funded by the Buyers pursuant to the Funding Agreement (as described below) prior to closing (the "Transaction"). The common shares being purchased represent 56% of the outstanding common shares of Mint on a non-diluted basis (59% if the subscription receipts were to be exercised for no additional consideration).
Mint also announces that the Buyers, Mint, Mint Middle East Ltd., Mint Capital LLC and Mint Gateway for Electronic Payment Services LLC have entered into an interim funding agreement (the "Funding Agreement") under which the Buyers have agreed to provide funding to negotiate, compromise and settle the outstanding payables owing by Mint and to fund the costs and expenses associated with the operation of Mint and its subsidiaries until the earlier of the closing of the Transaction and the termination of the Purchase Agreement. All amounts advanced under the Funding Agreement will become an unsecured, non-interest-bearing loan owing by Mint and its subsidiaries to the Buyers. That loan will become due one year and one day after the earlier of the closing of the Transaction and the termination of the Purchase Agreement. However, if the Purchase Agreement is terminated because of a default by the Buyers, the Buyers will forfeit (i) the right to repayment of the loan and (ii) a deposit of AED1,800,000 to be held by Mint Gateway for Electronic Payment Services LLC.

A copy of the Funding Agreement will be posted to Mint's profile on SEDAR at www.sedar.com.

The closing of the Transaction is conditional upon the satisfaction of various closing conditions, including the parties receiving all necessary shareholder, TSXV (as defined below) and third-party consents, approvals and authorizations. The Buyers and the Sellers have the right to terminate the Purchase Agreement (and the Buyers have the right to terminate the Funding Agreement) if the closing of the Transaction has not occurred on or before November 30, 2019.

The Transaction, if completed, will constitute a "change of control" of Mint within the meaning of that term under TSX Venture Exchange ("TSXV") policies and is subject to prior approval by the TSXV.

As the Transaction is a "related party transaction" of Gravitas as defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, the Transaction requires the approval of a majority of disinterested shareholders of Gravitas. Such approval will be sought at the upcoming annual and special meeting of shareholders of Gravitas."

WELL< Not sure how shareholders will be treated by new management. Perhaps new management will be more successful.
("Mint" or the "Company") announced, on June 5, 2019, that it had agreed to support a solicitation process which could result in a change in ownership or control of the Mint shares now owned by Gravitas Financial Inc. (CSE: GFI) ("Gravitas") and other shareholders of Mint and/or debt now owing by Mint. Gravitas owns approximately 53% of the shares in Mint on a non-diluted basis.

On August 22, 2019, Gravitas announced that it had entered into a non-binding letter of intent with Global Business Services for Multimedia ("GBS") and Mobile Telecom Group LLC ("MTG" and together with GBS, the "Buyers") which sets out the key terms pursuant to which the Buyers will acquire Gravitas' shares of Mint as well as Gravitas' interest in certain outstanding loans and other indebtedness (the "Proposed Transaction"). The letter of intent further contemplates that the Buyers will also be acquiring the outstanding debentures of Mint owing to third parties (the "Debentures"). As at March 31, 2019, the total amount of debt owed by Mint to Gravitas (the "Gravitas Loans"), including principal and interest, was approximately $5.1 million and as at the date hereof, the aggregate principal amount of the Debentures is $20 million. We have been informed by Gravitas that the purchase price to be paid for the sale of the shares, the Gravitas Loans and Debentures is expected to be less than the aggregate total sum of the Gravitas Loans and the principal amount of Debentures. The Proposed Transaction is subject to prior approval by the TSX Venture Exchange.

Mint operates primarily through its subsidiaries in the UAE. In 2015, Mint entered into a management agreement with GBS under which GBS assumed oversight of the day-to-day operations of Mint's UAE operations. GBS holds a 49% interest in Mint Middle East Ltd. (formerly, Mint Middle East LLC) and Mint Gateway for Electronic Payment Services. GBS has advanced funding to Mint's UAE operations to meet capital requirements and provide working capital.

GBS is a private company headquartered in the United Arab Emirates. We have been informed by GBS that its owner is Naser Ali Husain Ali Almaira. GBS describes itself as one of the leading, dynamic and progressive technology-oriented business groups in the Middle East for the past 25 years. GBS was established in Abu Dhabi with subsidiaries in other Gulf Cooperation Counsel countries and Egypt. GBS was founded to invest and to manage entities in telecommunications, financial services, broadcasting, film and audio-visual production, and events management.

MTG is also a private company headquartered in the United Arab Emirates. MTG is an affiliate of GBS. MTG describes itself as a provider of innovative enhanced television content and applications including text streaming, bulletin boards, chatting, gaming, voting and polling, sweepstakes, quizzes, MMS to TV, TV to MMS, automatic scheduling and play-list editing, and market analysis and Customer Related Management (CRM) tools. MSG also offers a sophisticated messaging system that allows businesses to send targeted SMS messages from any PC or browser-related terminal to their customer, either in bulk messaging or personal messages.

"We are pleased that Gravitas has entered into the non-binding letter of intent with GBS. GBS has been a long-term strategic partner of Mint in the UAE and helped in the restructuring and scaling up our Middle East operations over the years. We look forward to working with them closely in the future and believe their involvement will help in enhancing shareholder value." - states Vishy Karamadam, CEO of The Mint Corporation.

On July 12, 2019, Mint announced that it had implemented a deferred compensation plan (the "Plan") under which $140,832 of bonus compensation had been allocated. Under the Plan, service providers agreed to work at a reduced cash rate in return for bonus compensation which is (i) deferred, (ii) convertible into common shares of Mint at the election of Mint or the service provider, and (iii) otherwise payable in cash. All of the bonus compensation has now vested and is convertible into common shares of Mint at a price of $0.05 per share. The Plan and the issuance of common shares under the Plan is subject to TSX Venture Exchange approval and will likely be subject to disinterested shareholder approval.

About Mint

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.
"

Hopefully the company can solve its financial problems
"The Mint Corporation (TSXV: MIT) ("Mint" or the "Company") announces that it has implemented a deferred compensation plan (the "Plan") intended to preserve cash while Mint is subject to the participation agreement described in the Company's news release of June 5, 2019.

The Plan is intended to cover the period from June 1, 2019 to July 31, 2019. During that period, certain service providers have agreed to work at a reduced cash rate in return for bonus compensation which is (i) deferred, (ii) convertible into common shares of Mint at the election of Mint or the service provider, and (iii) otherwise payable in cash.

A total of $140,832 of bonus compensation has been allocated. This compensation vests in installments, of which $70,414 has vested, $35,207 could vest on July 15, 2019 and $35,211 could vest on July 31, 2019. A service provider's bonus compensation vests only if that service provider continues to provide services to Mint on the vesting date.

The $70,414 of bonus compensation, which is now vested, is convertible into common shares of Mint at a price of $0.05 per share. As additional bonus compensation vests, the conversion price will be fixed at the lowest price permitted by the TSX Venture Exchange, being the higher of $0.05 per share and 75% of the last closing price of the common shares on the vesting date.

Under the Plan, $94,499 of bonus compensation has been allocated to directors and senior officers of the Company, of which $47,248 has vested, $23,624 could vest on July 15, 2019 and $23,627 could vest on July 31, 2019. The allocation of bonus compensation to these parties, convertible into common shares, is considered a "related party transaction" as defined in Multilateral Instrument 61-101 ("MI 61-101"). The allocation of bonus compensation is exempt from the formal valuation requirement and the minority shareholder approval requirement of MI 61-101 because, at the time the allocations were agreed to, neither the fair market value of the allocations nor the fair market value of the consideration for the allocations, insofar as it involves interested parties, exceeded 25% of the Company's market capitalization.

The Plan and the issuance of common shares under the Plan is subject to TSX Venture Exchange approval.

About Mint

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally-certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.

This PR gives me hope that MIT will be in a better position once the sale of shares held by Gravitas is completed.

") ("Mint") announces that it has entered into a participation agreement dated June 4, 2019 with the majority holders of secured debt in Gravitas Financial Inc. ("Gravitas") and Mint. In so doing, Mint has agreed to support a solicitation process which could result in a change in ownership or control of the Mint shares now owned by Gravitas and other shareholders of Mint and/or the debt now owing by Mint to Gravitas. The solicitation process could also result in restructuring proposals for consideration by Mint.

A target date of June 21, 2019 has been set for the selection of successful bids under the solicitation process, which Mint anticipates will lead to additional funding required by Mint to develop its business.

Gravitas owns approximately 53% of the shares in Mint on a non-diluted basis.

Shares wil be trading Thursday May23 at opening.
Fingers crossed Market will be positive.

Latest move by management to increase rvevenue stream
MIT) (OTCQB: MITJF) is pleased to announce the following letter to its shareholders:

Dear Shareholders,

We continue to expand our Mint eco-system and bring to the market mobile led, digital financial products to the underserved segments that we witness.

We are pleased to announce that Mint has extended its fintech platform beyond individual and corporate clients to underserved merchants & small businesses. With that platform extension, we intend to reinvent consumer & merchant experience by offering merchant management services and a payment gateway (both in store and online) in merchant categories which previously have had little or no online presence. We have witnessed a rapid proliferation of mobile led commerce in the UAE and intend to leverage our expertise in transitioning Mint into a pure-play fintech platform. We will bring digital financial inclusion to the underserved merchants on the back of a reliable and secure digital payments eco-system.

With the introduction of VAT in the UAE, there is a huge push by the UAE government for a cashless economy. Currently, approximately 75% of the transactions are via cash. This paradigm is slowly but surely changing in the UAE.

UAE is witnessing a rapid growth in small and medium enterprises (SME's). There are approximately 350,000 SME's in UAE. This sector employs over 70% of the country's population according to Department of Economic Development - Government of Dubai.

We intend to look at specific merchant SME opportunities to offer digital and online capabilities in the UAE, starting with grocery and boutique luxury, supported by a secure and a fully functional payment gateway.

As we continue to evolve and extend our fintech platform, we will update our shareholders on upcoming plans and milestones.

About Mint

The Mint Corporation through its majority-owned subsidiaries (the "Mint Group"), is a globally-certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers."

A g (“Mint”) is pleased to announce that its majority-owned subsidiary, Mint Gateway For Electronic Payments Services LLC (“MGEPS”), based in the United Arab Emirates (UAE), has successfully completed the acquisition of the 100,000 payroll card portfolio from a financial institution in UAE and migrated over 100,000 payroll card accounts on to its globally certified payments platform.

Mint had announced the acquisition of this payroll card accounts from a financial institution in UAE on October 18, 2018, and the portfolio acquisition and migration was approved by UAE Central Bank among other compliance procedures leading to this successful addition to our cardholder base.

“We are starting 2019 strong and are pleased to announce that this acquisition and migration of the card portfolio was completed on schedule and is a testament to the strength of our team and our next generation world class technology platform. We also expect this to be accretive to our revenue. This acquisition has enhanced our payroll card portfolio to now over half a million cards and we intend to offer the full suite of Mint’s digital financial products to this customer-base via our feature rich mobile application. Mint is becoming a market leader in the UAE and, with this acquisition, we gain access to new customer relationships and our assessment suggests there is room for further growth in our cardholder base from this portfolio acquisition and beyond from our strong pipeline of opportunities.” states Abdul Razzak Al Abdullah– Chairman & CEO of MGEPS

Mint intends to roll-out its mobile application to the new payroll accounts which will enable them to link their payroll cards to the mobile application, access a wide range of services to manage their salary accounts and avail a wide array of digital financial services that Mint offers via its mobile application.

“We believe 2019 is going to be a transformational year for Mint. The growth of our payroll cardholder base combined with an expanded suite of mobile enabled digital financial services will be key drivers of revenue growth within our UAE operations. We not only provide a payroll disbursement service to our employer clients, but also provide a globally accepted MasterCard / UnionPay payment card with a linked feature rich mobile application that is the de facto bank account for their underbanked employees. The services offered on our app increases the value that each customer brings to us. Globally, fintech companies with a sizable customer base attract great market visibility and are richly valued. As Mint scales up and offers the full range of digital financial services as per our business plan, we believe we can substantially increase Average Revenue Per Customer (ARPU).” says Vishy Karamadam, Chairman & CEO of Mint Corporation.

Mint also announced that the Board of Directors has approved the grant of incentive stock options to purchase up to 3,000,000 common shares at an exercise price of $0.13 per share to directors, officers and employees of the Company. The options are exercisable until February 20, 2022.

About Mint
The Mint Corporation through its majority-owned subsidiaries (the “Mint Group”), is a globally-certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.ood addition of customers for MIT "

-- The Mint Corporation (TSX-V: MIT) (“Mint”) is pleased to announce that its majority-owned subsidiary, Mint Gateway For Electronic Payments Services LLC (“MGEPS”), based in the United Arab Emirates (UAE), has won a new customer with a portfolio of over 100,000 payroll card accounts. The customer is a leading UAE financial institution. Central Bank approval to migrate the accounts of this financial institution has also been received. Cardholder onboarding of this portfolio onto Mint’s globally-certified payment and digital banking platform has already commenced.
This is the second major cardholder transaction for Mint in less than three months. On October 18, 2018, Mint announced the acquisition of a portfolio of over 100,000 payroll cards, subject to standard compliance procedures including approval by the UAE Central Bank. UAE Central Bank approval for that acquisition has also now been received. Upon completion of these portfolio migrations to its platform, Mint is projecting to have 600,000 cards on its platform.
The underbanked market globally as per World Bank estimates is over 2 billion, with 20 million within the Gulf countries. The total population of migrant workers covered in the UAE alone is 5 million as per UAE government statistics. Now that Mint’s position as a leader in financial and digital inclusion is being proven in the UAE and the technology platform built is operating at scale, there is a significant opportunity to continue to grow Mint’s cardholder base both within the UAE and beyond.
The Wages Protection System (WPS), overseen by the Central Bank of UAE, mandates employers to disburse salary using UAE Central Bank approved entities in a secure and cashless manner such as via reloadable globally accepted Mastercard and UnionPay branded payroll cards. Mint is a dominant non-bank payroll card service provider in the region and, by linking the physical payment card to a feature rich mobile application, is at the forefront of bringing financial and digital inclusion to the underbanked.
“Our significant investment in building a world class mobile enabled payment infrastructure to service the underbanked is now gaining recognition in the market place. We are seeing several attractive opportunities in the market place and are now well positioned to execute. The technology platform that we have built is tailor made to provide digital financial inclusion for the underbanked,” states Abdul Razzak Al Abdullah – Chairman & CEO of MGEPS.

another postental revenue stream acquired
"The Mint Corporation (TSX-V: MIT) (“Mint”) is pleased to announce that its majority-owned subsidiary, Mint Gateway For Electronic Payments Services LLC (“MGEPS”), based in the United Arab Emirates (UAE), has won a new customer with a portfolio of over 100,000 payroll card accounts. The customer is a leading UAE financial institution. Central Bank approval to migrate the accounts of this financial institution has also been received. Cardholder onboarding of this portfolio onto Mint’s globally-certified payment and digital banking platform has already commenced.

This is the second major cardholder transaction for Mint in less than three months. On October 18, 2018, Mint announced the acquisition of a portfolio of over 100,000 payroll cards, subject to standard compliance procedures including approval by the UAE Central Bank. UAE Central Bank approval for that acquisition has also now been received. Upon completion of these portfolio migrations to its platform, Mint is projecting to have 600,000 cards on its platform.

The underbanked market globally as per World Bank estimates is over 2 billion, with 20 million within the Gulf countries. The total population of migrant workers covered in the UAE alone is 5 million as per UAE government statistics. Now that Mint’s position as a leader in financial and digital inclusion is being proven in the UAE and the technology platform built is operating at scale, there is a significant opportunity to continue to grow Mint’s cardholder base both within the UAE and beyond.

The Wages Protection System (WPS), overseen by the Central Bank of UAE, mandates employers to disburse salary using UAE Central Bank approved entities in a secure and cashless manner such as via reloadable globally accepted Mastercard and UnionPay branded payroll cards. Mint is a dominant non-bank payroll card service provider in the region and, by linking the physical payment card to a feature rich mobile application, is at the forefront of bringing financial and digital inclusion to the underbanked.

“Our significant investment in building a world class mobile enabled payment infrastructure to service the underbanked is now gaining recognition in the market place. We are seeing several attractive opportunities in the market place and are now well positioned to execute. The technology platform that we have built is tailor made to provide digital financial inclusion for the underbanked,” states Abdul Razzak Al Abdullah – Chairman & CEO of MGEPS.

“Unlike payroll companies in North America, we not only provide a payroll disbursement service to our employer clients, but also provide a globally accepted MasterCard / UnionPay payment card with a linked feature rich mobile application that is the de facto bank account for their underbanked employees. This unique value proposition and the technology infrastructure that we have built is at the core of why Mint can offer value added services to our cardholders and increase average revenue per customer. Going into 2019 we are seeing good momentum in the business to both increase our customer base and grow our revenue per customer,” says Vishy Karamadam, Chairman & CEO of Mint Corporation.

About Mint
The Mint Corporation through its majority-owned subsidiaries (the “Mint Group”), is a globally-certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers and employees with best-in-class financial services supported via payroll cards and the Mint mobile application. Through its payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers and employees."

As 2018 draws to a close, we are pleased to update you on the progress we have achieved this year.

Significant milestones that we achieved in 2018 include:

Increase revenue per customer - Launch of feature rich Mint Mobile App with strong adoption right out of the gate – positioning us well to grow our average revenue per customer in 2019
Offering Insurance products to drive average revenue per customer growth - Receipt of preliminary approval for Insurance Brokerage license – gearing up for launch
Increase our customer base - signed an agreement to acquire a 100,000-payroll card portfolio
Enhancing our industry leading tech platform - Signed exclusive licensing agreement for technology with Interac Corp - Canada’s world class domestic debit network
Strengthened balance sheet - Closing of the debt conversion that strengthened balance sheet and reduced our debt by $39M
Increase investor awareness – listed on OTCQB for U.S. market exposure
This was a year of building, one in which we made great strides in preparing the company for its next stage of growth. We are entering 2019 strong and are well positioned to achieve meaningful revenue growth driven by an increase in our customer base and our average revenue per customer. This will drive significant growth in shareholder value.

Our core business of payroll remittance processing offered to employers is undergoing change – change which is providing opportunities for Mint. Some companies are deciding to exit the business given new regulations within the UAE and the need for investment in new technology. We see opportunities for market consolidation which would represent not only increased payroll remittance revenues, but more importantly, an expanded base of potential customers for our financial services. In October we announced an agreement to acquire a 100K card portfolio. We will continue to explore similar-sized opportunities in 2019.

Unlike payroll companies in North America, we not only provide a payroll disbursement service to our employer clients, but also provide a globally accepted MasterCard / UnionPay payment card with a linked feature rich mobile application that is the de facto bank account for their employees. This unique value proposition is at the core of why Mint can offer value added services to our cardholders, increase average revenue per customer and expects to generate significant incremental recurring revenue.

We delivered on our Mint mobile application in October, a key milestone for our Company which is a great tool for our customer-base to access their payroll account, buy prepaid mobile phone minutes, pay for flight tickets, and make utility & toll payments, all in a cashless manner. We faced a few regulatory hurdles that delayed delivery of some of our initiatives, but we fully expect to receive these approvals in the coming year. We intend to launch more digital financial services on the Mint app to further “bank the underbanked”.

Operationally, we have been using our resources to build out the Mint payments technology stack to enable more services and handle higher transaction volumes. We are proud to achieve industry leading uptime of our card management systems.

During 2018, Mint also significantly enhanced the team by adding experienced industry professionals across software, technology and operations. We have assembled a world-class team of payment industry professionals to execute on our business plan.

At the corporate level, we recognize that Mint must increase its awareness within the investor community. We recently listed on the OTC QB Venture Market in the U.S. to create more visibility for our US-based investors, and we intend to expand our market outreach in 2019.

In the coming year we anticipate our cardholders to use our mobile application for an array of financial services that we will offer through our application. We received provisional approval to become a licensed insurance broker. Upon receiving final approval, we will offer health insurance to our customers. We also plan to start our microlending services by offering salary advance (overdrafts) to our payroll cardholders through the convenience of the mobile app.

International remittances processing is another exciting opportunity for Mint. The UAE is the second largest source, after the U.S., of remittances to other countries with US$ 44 billion sent in 2017, up from US$14 billion in 2012 according to World Bank statistics. In 2019 we intend to launch remittance services, in partnership with banks and foreign exchange remittance companies.

We are excited to grow these new opportunities into material contributions for the future growth of our Company. We look forward to updating you in 2019 on the initiatives we undertake to expand the Mint ecosystem. We are well-positioned for a successful 2019 as we build on the Mint brand and continue to develop and market innovative, mobile-led digital financial products for the underbanked.

We thank you for your continued support.