Mint Announces Corporate Update

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") announces the
following: 


Mint North America

The company has taken significant steps to restructure the North American
operations, starting with closing down the Pennsylvania office and negotiating
with creditors in North America to come to settlements of the amounts owed to
them. Operations have been consolidated to the Greater Toronto Area. The company
continues to look for further cost saving opportunities.


Mint Operations UAE

The Company continues to restructure its UAE operations. The company has reduced
staffing levels significantly and consolidated operating offices into one
location. In addition, the company is also looking to enhance the technology to
offer product and services in a more cost effective manner.


Special Shareholders Meeting

The Company has called a special meeting of shareholders for May 1, 2014 to
consider (a) a special resolution approving a change of name for the Company to
such name as the board of directors may determine, (b) a special resolution
approving a change of the municipality of the Company's head office from Toronto
to Oakville, and (c) a resolution of disinterested shareholders approving
Gravitas Financial Inc. ("Gravitas") as a new Control Person (as that term is
defined in the TSX Venture Exchange policies).


Gravitas loaned $1,500,000 to Mint in November 2013 under a loan agreement which
permits the conversion of that principal amount to common shares at a price of
$0.05 per share during the period ending November 25, 2015 and thereafter at
$0.10 per share during the period ending November 25, 2015. In March, 2014, Mint
agreed that additional loans of $1,121,920 made in January 2014 would be
convertible at $0.055 during the period ending November 25, 2014 and thereafter
at $0.10 during the period ending November 25, 2015. That additional loan is
subject to a hold period expiring on August 1, 2014. The loans bear interest at
12% per annum and Gravitas may elect to receive payments of interest in common
shares at the lowest price permitted at the time of conversion and subject to
stock exchange approval. Mint may borrow up to an additional $378,080 under the
loan facility, subject to agreement by Gravitas. Any additional borrowing would
be on the same terms except that the conversion price would be the lowest price
permitted at the time of conversion and subject to stock exchange approval.
Gravitas has agreed not to exercise its conversion right so as to own more than
50.1% of the outstanding common shares until the earlier of May 22, 2015 and the
occurrence of an event of default under the loan agreement. Having regard to
this restriction and the change in the conversion price after November 25, 2014,
Gravitas could acquire up to 39,738,062 common shares (representing 60% of the
common shares) upon conversion of the principal amount. Mint has agreed that
Gravitas may nominate a director on Mint's board of directors but Gravitas has
not yet exercised that right. Gravitas also has a pre-emptive right to
participate in future issuances of common shares while its loan is outstanding.
Under TSX Venture Exchange policies, Mint must obtain shareholder approval
before Gravitas may increase its ownership of Mint common shares above 20%
(thereby becoming a Control Person under the policies of the stock exchange). If
Mint fails to obtain disinterested shareholder approval of Gravitas as a Control
Person by July 31, 2014, that will constitute an event of default under the
Gravitas loans. Shareholders holding approximately 26% of Mint's common shares
have entered into voting agreements to support the resolution to approve
Gravitas as a new Control Person. 


Financing and Other Matters

The Company continues to work toward a target escrow release date of the middle
of May. Over the coming weeks, the company and the agent will be reviewing the
escrow release conditions. 


The Company has been named a co-defendant in a statement of claim issued by
investors in Mint's debentures and common shares and claiming, among other
things, damages of $920,000 plus punitive damages. Investors in a second action
commenced by the same law firm are seeking to add the Company as a defendant in
a statement of claim also issued by investors in Mint's debentures and common
shares and claiming, among other things, damages of $1,000,000 plus punitive
damages. The plaintiffs claim that these investments were unsuitable for them
and that their investment advisor should not have made these investments on
their behalf. The investors also claim that they were unaware of commissions
paid to their advisor and that Mint had a duty to inform them. The Company has
appointed a special committee to investigate and respond to the allegations made
in the statement of claim and will vigorously defend its interest. 


The Company has borrowed approximately $1.5 million from Gravitas under a demand
facility which contemplates that the Company may borrow up to $1,750,000. In
each case, advances under the facility require the consent of Gravitas. The loan
bears interest at 18% per annum and is secured by a security interest in the
assets of the Company. The loan is to be paid out of the proceeds from the
release of funds to the Company upon conversion of the subscription receipts
described in the Company's press release of January 3, 2014, unless earlier
payment is demanded by Gravitas.


A more fulsome update on the business will be contained in the Management
Discussion and Analysis which should be released shortly.


GENERAL DISCLOSURE STATEMENT

Investors are encouraged to read the Management Discussion and Analysis
Documents filed on SEDAR for a description of additional risks associated with
investing in the Company. The following statement is only intended to inform
investors on certain of the many risks associated with investing in the Company.
The Company operates predominantly in the Middle East and North Africa ("MENA").
It is accordingly exposed to significant political, legal and regulatory risks
associated with operating in these emerging and volatile markets. The key
management personnel and operations of the Company are based in countries which
do not have strong and reliable judicial enforcement. This results directly in
additional risk with respect to the enforcement of legal and contractual rights,
including, for example but without limitation, the enforcement of the rights of
creditors, the protection of intellectual property rights, the enforcement of
joint venture arrangements, and binding key employees with non-compete
agreements. Since inception, the Company has not reached profitability. The
Company relies heavily on high-cost, debt financing to fund its business plan.
This has exposed the Company to unique financial risks associated with
significantly higher than normal debt levels. Investors in the company are
strongly encouraged to be aware of the significant risks of the company, to
conduct additional due diligence and to seek the help of a licensed investment
advisor before considering to invest in securities of the Company. Moreover,
investors must be aware that the purchase of the Company's securities involves a
number of additional significant risks and uncertainties, as disclosed in the
Management Discussion and Analysis reports filed on SEDAR by the Company.
Investors considering purchasing securities of the Company should be able to
bear the economic risk of total loss of such investment.


ABOUT MINT TECHNOLOGY CORP

Established in 2004, Mint is the world's first vertically integrated prepaid
card and payroll services provider with its own ATM network, payment processing
platform and proprietary branded card product delivered to workers in the United
Arab Emirates and expanding to other parts of the Middle East. Mint operates
through 4 subsidiaries, Mint Middle East LLC, a payroll card services provider;
Mint Capital LLC, a financial products distribution company; Mint Global
Processing Inc., a fully integrated third party processing platform; and MEPS, a
mobile airtime POS and Merchant network solutions business. 


NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


For additional information please visit www.mintinc.com .

FOR FURTHER INFORMATION PLEASE CONTACT: 
The Mint Corporation
Pierre G. Gagnon
President & CEO
pierre@mintinc.com
www.mintinc.com
The Mint (TSXV:MIT)
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