By Laura Lutz
Des Moines, Nov. 1 - Mint Technology Corp. completed the first closing of a previously announced private placement of units for C$1.51 million.
The company sold 21,622,142 units of one share and one half-share non-transferable warrant at C$0.07 per unit.
Each whole warrant is exercisable at C$0.14 for one year. The expiry of the warrants may be accelerated to 20 business days if the weighted average trading price of the company's shares exceeds C$0.30 for 30 consecutive business days.
Following completion of this non-brokered closing, Mint has about 60.11 million shares outstanding.
A second closing of the placement, which priced on Sept. 12, is expected to settle by Nov. 30.
Mint is a Toronto-based payment solutions company.
| Issuer: | Mint Technology Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.51 million
|
| Units: | 21,622,142
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.14
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 1
|
| Stock symbol: | TSX Venture: MIT
|
| Stock price: | C$0.10 at close Oct. 31
|
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