TORONTO, Nov. 28, 2017 — The Mint Corporation (TSX VENTURE:MIT) (“Mint” or the “Company”) is pleased to announce that Mint Capital LLC and the Company have entered into a consulting agreement with 2586842 Ontario Limited to assist in raising financing for subsidiaries of Mint located in the United Arab Emirates (the “Mint Capital Group”). The consultant will provide analysis, financial models, due diligence services and introductions to financial advisors who can assist in raising the financing.
Under the consulting agreement, the consultant will receive an engagement fee of $59,000, payable by issuance of 1,180,000 common share purchase warrants, as well as other work fees. Each common share purchase warrant is exercisable for one common share of Mint at an exercise price of $0.13 over the three-year period ending November 27, 2020. The warrants will vest in two installments. 50% of the warrants will vest upon execution of a term sheet prepared under the consulting agreement and entered into between a member of the Mint Capital Group and a funder or financial advisor. The remaining 50% of the warrants will vest upon closing of the financing.The issuance of warrants and common shares under the consulting agreement is subject to TSX Venture Exchange approval. The consultant is not defined as a Non-Arm’s Length Party (i.e. is arm’s length to the Mint Capital Group) in relation to Mint for purposes of the stock exchange. The common share purchase warrants and common shares will be subject to the customary hold period expiring four months and a day after issuance.Mint also announced the granting of options to purchase 250,000 common shares under the Company’s stock option plan, including options on 100,000 common shares issued to an officer of the Company. The options will not be exercisable until shareholders approve the amended option plan described in the Company’s news release of June 1, 2017. The options are exercisable at a price of $0.13 per share and expire on November 28, 2020. 50% of the options vest immediately and 50% vest on November 28, 2018. The stock options, and any common shares issued upon exercise of those stock options, are subject to a four-month resale restriction expiring on March 29, 2018.About MintMint, through its 51% owned subsidiaries (the “Mint Group”), is a globally certified payments company focused on offering financial services to the unbanked salaried worker in the United Arab Emirates (UAE). The Mint Group provides employers with payroll cards for their unbanked employees. These employees earn regular salaries and have long-term work permits. The Mint card effectively becomes a cardholder’s bank account. The Mint Group is in the process of creating a comprehensive suite of value added services for its corporate clients and their employees. Mint is proud that the Mint Group is the only end-to-end, globally certified payments platform in the UAE. The Mint Group network covers the entire spectrum from issuing, processing and acquiring, all through its in-house platform.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.The Mint CorporationVishy Karamadam
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