Mint Receives TSX Venture Exchange Conditional Approval of Previously Announced Disposition by Mint UAE Subsidiaries of Payroll Disbursement Service Business

Toronto, Ontario–(Newsfile Corp. – April 24, 2020) – The Mint Corporation (TSXV: MIT) (“Mint” or the “Company“) today announced that it has received conditional approval from the TSX Venture Exchange (the “TSXV“) of the sale by the Company’s subsidiaries, Mint Middle East LLC and Mint Gateway for Electronic Payments LLC (collectively “Mint UAE“) of Mint UAE’s direct payroll disbursement service business in the United Arab Emirates (the “Transaction“). The Transaction was announced by Mint in a press release issued on February 4, 2020.

The TSXV has determined that the Transaction constitutes a sale of more than 50% of Mint’s assets, business or undertaking, as defined under Policy 5.3 of the TSXV Corporate Finance Manual. Final approval of the Transaction by the TSXV remains subject to a number of conditions including receipt by the Company of the written consent of the holders of more than 50% of the issued and outstanding common shares of the Company.

The Company intends to obtain the required written consent for the Transaction from Global Business Services for Multimedia (“GBS“), the holder of approximately 56% of the Company’s issued and outstanding common shares. Trading in the Company’s shares will remain halted until the TSXV conditions to allow trading to resume have been satisfied.

ABOUT MINT

The Mint Corporation through its majority-owned subsidiaries (the “Mint Group“), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, UAE. The Mint Group provides employers, employees and merchants with best-in-class financial services supported via payroll cards and the feature rich and linked Mint mobile application. Through its mobile enabled payments platform certified globally by Mastercard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.

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

The Mint Corporation
Vishy Karamadam, Chief Executive Officer
647-352-0666
www.themintcorp.com