Spearmint Resources Inc. Signs LOI to Acquire a Payment Processing Technology Exclusive to Retail Marijuana Industry

Spearmint Resources Inc. ("Spearmint" and the "Company") (TSX VENTURE:SRJ) has
signed a letter of intent ("LOI") to acquire a 50-per-cent interest in a payment
processing technology for use in the retail marijuana industry. The technology
under development includes a multi-user electronic wallet application for mobile
phones that enables consumers to securely and conveniently access information,
makes payments as well as receives payments to facilitate marijuana commerce at
the point of sale. 


The potential acquisition is a foray into the field of companies currently
focused on participating in specific sectors of the North American Medical
Marijuana industry. This secure technology will be available to users worldwide
for use as a preloaded payment app on either their mobile device or a prepaid
loyalty card to purchase their medicine. 


"Banking is the most urgent issue facing the legal cannabis industry today,"
said Aaron Smith, executive director of the National Cannabis Industry
Association in Washington, D.C. Saying legal marijuana sales in North America
could reach $3 billion this year, Mr. Smith added: "So much money floating
around outside the banking system is not safe, and it is not in anyone's best
interest. Federal law needs to be harmonized with state laws."


Conrad Clemiss, CEO of SRJ stated, "This is an exciting sector for the company
to be investigating. While there is no guarantee of success, based on our
research, we are one of the first companies potentially entering into this
sector and in a unique position to spearhead the movement into safe, secure and
convenient point of sale transactions."


There is no guarantee that the formal deal will get signed and the LOI is
subject to due diligence, execution of formal documents, board approval and
regulatory approval. 


Regulatory regime 

The possession, cultivation and distribution of marijuana remain illegal at the
federal level in the United States. While there has been a federal policy to
allow marijuana operations that are compliant with state laws to remain in
operation, state law provides no protection against federal action. Should the
U.S. federal government take action, the potential for civil and criminal
consequences cannot be ignored. Due to the regulatory regime in Colorado and
other states, the structure of this transaction must withstand state, federal
and local scrutiny. Further, the transaction may be subject to state and local
regulatory approval. Accordingly, the ability to consummate the contemplated
transaction may be beyond the company's control. 


The company has no operating history and an evolving business model. There can
be no assurance that the company will achieve profitability or obtain future
financing. Demand for the company's products is dependent on a number of social,
political and economic factors that are beyond its control. While the company
believes that demand for the products will continue to grow, there is no
assurance of such. 


Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange Inc.) accepts
responsibility for the adequacy or accuracy of this press release.


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FOR FURTHER INFORMATION PLEASE CONTACT: 
Spearmint Resources Inc.
Conrad Clemiss
Director
604 646 6903
www.spearmintresourcesinc.com