Mint Technology extends debentures to 2015

2012-12-19 18:09 ET - News Release

Mr. Nabil Bader reports


Mint Technology Corp.'s holders of $850,000 of Series 1 debentures and $1,695,400 of Series 2 debentures have extended the maturity date of those debentures to Sept. 15, 2015, in consideration for 0.5 common share of Mint for every $1 of debenture extended. Following this extension: (a) $607,750 (U.S.) of Series 1 debentures are outstanding, all of which mature on Jan. 25, 2013; and (b) $170,000 of Series 2 debentures are outstanding, of which $85,000 mature on March 7, 2013, and $85,000 mature on March 23, 2013. A total of 1,272,700 common shares were issued as bonus shares in connection with the extension. The common shares issued are subject to a hold period expiring on April 15, 2013.

Mint has agreed to pay cash compensation of $26,750 to dealers whose clients have extended their debentures