By Devika Patel
Knoxville, Tenn., Jan. 14 - Mint Technology Corp. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 13,333,333 units at C$0.075 per unit. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.10 for two years.
The units are being bought by Cristomel Inc., Notre-Dame Capital Inc., Glocap Management Inc. and Hermitage Canada Finance Inc., along with other investors designated by Hermitage.
Mint expects the deal to close on March 4.
Proceeds will be used for working capital purposes.
Toronto-based Mint develops and markets prepaid credit cards.
| Issuer: | Mint Technology Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 13,333,333
|
| Price: | C$0.075
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investors: | Cristomel Inc., Notre-Dame Capital Inc., Glocap Management Inc., Hermitage Canada Finance Inc.
|
| Pricing date: | Jan. 12
|
| Settlement date: | March 4
|
| Stock symbol: | TSX Venture: MIT
|
| Stock price: | C$0.01 at close Jan. 11
|
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