By Devika Patel
Knoxville, Tenn., July 10 - Mint Technology Corp. said it will take in C$1.5 million from a non-brokered private placement of units.
The company will sell units at C$0.125 apiece. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.15 until Aug. 31, 2011.
Settlement is expected Aug. 31.
Proceeds will be used for working capital, for the company's expansion of its business in the United Kingdom and for a proposed acquisition in the Middle East.
Toronto-based Mint develops and markets prepaid credit cards.
| Issuer: | Mint Technology Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Price: | C$0.125
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 31, 2011
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | July 10
|
| Settlement date: | Aug. 31
|
| Stock symbol: | TSX Venture: MIT
|
| Stock price: | C$0.155 at close July 9
|
| Market capitalization: | C$4.16 million
|
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