By Devika Patel
Knoxville, Tenn., June 24 - Mint Technology Corp. said it will take in C$1 million from a non-brokered private placement of units.
The company will sell 5 million units at C$0.20 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.35 until July 15, 2009.
Settlement is expected July 15.
Proceeds will be used to help Mint Technology execute the next phase of its business plan.
Toronto-based Mint Technology develops and markets prepaid credit cards.
| Issuer: | Mint Technology Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | July 15, 2009
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | June 24
|
| Settlement date: | July 15
|
| Stock symbol: | TSX Venture: MIT
|
| Stock price: | C$0.20 at close Nov. 7
|
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