TORONTO, ONTARIO--(Marketwire - May 16, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. ("Mint") (TSX VENTURE:MIT.V - News)(PINKSHEETS:MITJF.PK - News) announces in Cairo, Egypt yesterday an Egyptian publication, Al Messa, announced that the Minister of Agriculture and the Undersecretary of the Minister of Agriculture are making good progress with regards to the implementation of the Mint electronic "Hiazah" Card. The Minister emphasized the project will benefit all farmers in the country by "preserving the quality of land and the identity of the farmers as well as streamlining the distribution of fertilizer, other rural products and loans from the Principal Bank for Development and Agricultural Credit ("PBDAC")."
Mr. Ali Jarallah, Managing Director of Mint Egypt, said today, "As reported in the Egyptian press yesterday, Mint and the Ministry of Agriculture are well progressed toward the launch of this exciting project. After our last working session on April 19th, 2012, a further workshop between all parties involved has been scheduled for May 25th - May 29th, 2012 where it is expected that final contracts will be approved and executed."
Mint will release further details of the progression of this project as they become available.
FORWARD LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this news release, Mint cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and Mint disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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 including microcredit, mobile top up and money remittance services delivered seamlessly to workers throughout the Middle East and North Africa region. Mint operates through 4 subsidiaries, Mint Middle East, a payroll card services provider, Mint Money, a financial products company, Mint Global Processing, a fully integrated third party processing platform and soon to launch, Mint Merchant Services, a POS and ATM network solutions business. Mint has 65 employees in 7 offices in UAE (2), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the Toronto Stock Exchange (TSX VENTURE:MIT.V - News).
For additional information please visit www.mintinc.com.
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Mint Technology Corp.
President & CEO
Mint Technology Corp.
Head of Compliance and Investor Relations