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CRO Canadian Arrow Mines Ltd. (delisted)

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Share Name Share Symbol Market Type
Canadian Arrow Mines Ltd. (delisted) TSXV:CRO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Mint Announces Leadership Change

08/01/2014 4:11pm

Marketwired Canada


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") would like to
announce the resignation of Nabil Bader as President and Chief Executive Officer
("CEO") as of December 27th, 2013, the appointment of Pierre Gagnon as Interim
CEO as of December 27th, 2013, and Abdul Razzak Al Abdullah as Chief
Restructuring Officer ("CRO") as of January 7, 2014.


Mr. Bader has been President and CEO of Mint since June 2010 and joined the
Board of Directors in November 2010. Though Mr. Bader is resigning is
operational position, he will remain a Director of Mint. During his tenure with
Mint, Mr. Bader was instrumental in expanding the product offerings of Mint as
well as increasing Mint's footprint in the MENA region. His ability to establish
forward looking strategic partnerships will enable the new leadership team to
stabilize the current platform as well as continue to progress with current
projects in the Kingdom of Saudi Arabia and throughout the MENA region. 


Neil Gilday, Director, said today, "Nabil has been a great asset to Mint. His
background of helping to establishing the WPS system in the UAE and his
understanding of the region and its inner workings have enabled Mint to
establish a foundation from which we can grow from. It will be up to the Board
and the new leadership team to stabilize what Nabil has helped to create and
create a fiscally responsible plan to move forward."


Mr. Al Abdullah will assume Mr. Gagnon's previous position of CRO of the Middle
East group of companies. Mr. Al Abdullah is a long time shareholder of Mint as
well as a strategic partner through Mint's subsidiary Mint Electronic Payment
Systems ("MEPS"). Mr. Al Abdullah's knowledge and experience within the region
will be invaluable to Mint during this time of cost reduction and a focus of
strengthening the core business. Through Mr. Al Abdullah's workings with the
Mint restructuring team, Mint has been able to streamline its various processes
and procedures and has been able to reduce its staff by 32 people throughout the
various Middle East subsidiaries. This, combined with the previous closing of
the US office, has reduced Mint's consolidated monthly expenses considerably and
has not affected the quality of operations.


GENERAL DISCLOSURE STATEMENT

Investors are encouraged to read the most recent 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
Nabil Bader
President & CEO
+971 506457719
nbader@mintinc.com


The Mint Corporation
Nicole Souadda
Head of Compliance and Investor Relations
610-647-7882
nsouadda@mintinc.com
www.mintinc.com

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