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Hopefully this action will bring the stability to

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Sam Dan Member Level  Tuesday, 01/07/20 11:55:34 AM
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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."


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