yup for sure, some dude on stock house took 80 k shares off the 8.5 than madness happened
MIT - Mint Technology Corp (TSX-V) - Page 2
Mint Technology arranges $50-million (U.S.) financing
2011-12-29 17:25 MT - News Release
Mr. Nabil Bader reports
MINT APPOINTS US BROKER/DEALER TO ARRANGE STRUCTURED DEBT FINANCING FOR MINT MONEY MICROCREDIT PROJECT
Mint Technology Corp. has signed an agreement to retain the services of a registered broker/dealer based in New York, N.Y., which will act as exclusive placement agent and financial adviser to Mint in connection with up to $50-million (U.S.) in structured debt financing to support the recently announced microcredit project being launched by Mint Money in early 2012.
The placement is intended to provide non-recourse wholesale debt finance to be utilized as collateral by a regulated financial institution in the United Arab Emirates, which is partnering with Mint to launch an innovative microlending product.
Mint intends to offer microfinance directly to its existing cardholder base and, as such, has virtually no cost of customer acquisition, with a limit of up to $1,000 (U.S.) each advance and with approval and settlement taking place within 24 hours through a credit load to the payroll card. Repayments will be deducted on payday before available funds are allowed on the card, thereby virtually eliminating repayment risk.
Mint forecasts a 2012 penetration rate of 10 per cent of its existing cardholder base of 400,000 employees thereby necessitating an initial debt financing facility of in excess of $40-million (U.S.).
Been telling this place about MIT for months now and one of the many huge news releases just dropped
Thursday, April 26, 2012
TORONTO, ONTARIO--(Marketwire - April 26, 2012) -
NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. (TSX VENTURE:MIT)(PINKSHEETS:MITJF) ("Mint" or "Company") is pleased to announce that its subsidiary, Mint Global Processing LLC ("MGP") and its banking partner, have passed all required testing to complete both issuing and acquiring certification from the UAE Central Bank for prepaid and ATM debit cards making MGP only the 4th Third Party Processor ("TPP") in the UAE to be authorized to connect to the Central Bank UAE Switch.
In addition, MGP will be able to market its processing services to Banks and other Card Issuers throughout the UAE as well as the GCC. Any card now issued through a financial institution in the UAE and the GCC will be accepted by the MGP platform.
Nabil Bader, Mint CEO said today, "This accomplishment is an incredible testament to the work between Mint and Carta Solutions to create a TPP platform that is only 1 of 4 currently approved by the Central Bank in the UAE. By using our own transaction platform, it reduces our costs and dependencies on outside vendors which equates to a stronger bottom line and increased revenues."
MGP plans to not only offer platform and transaction processing, but is working with its technology partner and shareholder in MGP, Carta Solutions, to incorporate mobile banking, Radio Frequency Identification (RFID) and Near Field Communication (NFC) capabilities. These technologies will allow our end users to use contactless payments on their mobile device and/or their prepaid/debit card.
Chris Hogg, Mint Executive Chairman, said today, "Receiving this certification is yet another step for Mint in reaching the business goals it has set-out for 2012. We are thrilled to have achieved this valuable approval and are confident that MGP, as both a stand-alone business and a member of the Mint family of companies, will now grow and develop over this fiscal year into a strong contributor to Mint's overall financial targets."
April 30, 2012 22:38 ET
Mint to Acquire UAE Mobile Airtime Top Up Business and Merchant Network to Add to Mint Money Range of Services
TORONTO, ONTARIO--(Marketwire - April 30, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. ("Mint") (TSX VENTURE:MIT)(PINKSHEETS:MITJF) announced today that the Company has signed a Letter of Intent and substantially completed due diligence on the acquisition of the business assets, trading names, customer lists, merchant agreements, client and third party telecoms contracts, and goodwill of one of the UAE's leading mobile POS e voucher network company's, ePAY, from its current owners Global Business Services ("GBS"), a leading UAE telecom, multimedia and premium added value services company.
ePAY's merchant network currently processes in excess of $160,000,000 in mobile airtime top up per annum through the GBS/ePAY's proprietary platform solution and over the last 5 years has consistently delivered in excess of $1,500,000 of Net Profit to its owners.
This business will be acquired by a new subsidiary of Mint, to be known as Mint Merchant Services and its offerings will integrate with those of Mint Money including offering mobile top up to Mint's entire payroll cardholder base in the UAE and eventually beyond.
The financial terms of the transaction remain confidential at this time but include both a cash component and an issue of shares to the Vendor at a significant premium to the current average trading price of Mint's common stock. The transaction structure will be announced in detail following execution of unconditional contracts.
Mint Executive Chairman, Chris Hogg said today, "This is a unique opportunity for Mint to own and deliver its own mobile airtime top up range of products to its payroll card customer base who we know through survey data, in addition to sending money home, spend in excess of $150,000,000 per annum in airtime on their mobile devices. I am particularly pleased that a large proportion of the acquisition consideration is in the form of Mint stock as the Vendor shares in Mint's enthusiasm for our current rate of growth and the opportunity of having our own mobile top up business to add to our growing cardholder base."
Nabil Bader, Mint CEO said today, "This acquisition will add cash flow and EBITDA straight out of the gate for Mint Money which together with the micro loan product we are launching this month and the plans we have for an expansion of ePAY's range of offerings is good news for Mint as we continue to grow our reputation as the "go to" company for the unbanked workers in our core market. In addition, to marketing our own cardholder base there are also a number of operational synergies to be gained from the combination of this business with the Mint Money front office and the Mint Global Processing back office."
check that presentation out...beautyyyyyyy
EGYPT JOINT VENTURE TO BE SIGNED FEBRUARY 27TH, 2013 IN CAIRO
Toronto, Ontario – February 20, 2013 - Mint Technology Corp. (TSX Venture: MIT) (“Mint” or the “Company”) Further to the announcement on January 21, 2013, Mint is pleased to announce the completion and approval by all parties and their legal counsel of the Joint Venture Agreement, Shareholders Agreement and Management Agreement for Mint ECARD JSC and a signing ceremony is scheduled in Cairo, Egypt for Wednesday, February 27, 2013.
Mint and ECARD, a wholly owned subsidiary of PBDAC (Principal Bank for Development and Agriculture), will now proceed with the planned cooperative project to develop an integrated prepaid card system for farmers throughout Egypt. A further announcement will be made following the signing of the contracts on February 27, 2013, which will include guidance as to the project plan for execution and high level financial expectation both in terms of investment and return.
awesome news and management is top class, plus helps when you have a billionaire on board
also raymond james has bought over 6 million shares past few months, buying everything under the sun...not sure why