Mint Corporate Update


July 25, 2018 (Source) — The Mint Corporation (TSXV:MIT) (“Mint” or the “Company”), is pleased to announce that Mr. Brian Hendry has been appointed as the Company’s Chief Financial Officer.

Mr. Hendry, CPA, CMA and CFA, is a seasoned financial executive with over 25 years’ experience.  During his career, he has worked as the Chief Financial Officer of Canadian companies within the software and venture capital sectors, as well as having conducted financing, mergers and acquisition, and initial public offering transactions for technology, business services and consumer products companies.

Mr. Hendry replaces Ms. Kym No who served as Interim CFO and who has left the Company to pursue other opportunities.

Vishy Karamadam, CEO of Mint, said “We welcome Brian Hendry to our management team.  His finance and capital markets background will be a valuable addition to the Mint senior management team as it continues its global expansion plans.  We would also like to thank Kym No for her valuable contribution to Mint as Interim CFO.”

Mr. Hendry has been granted options to purchase 400,000 common shares of Mint, exercisable for $0.175 per share on or before July 23, 2021, subject to vesting.

Mint also announces the termination by mutual agreement of the payment processing services agreement which was announced by Mint on July 5, 2018.

About Mint

The Mint Corporation (TSXV:MIT), through its majority owned subsidiaries (the “Mint Group”), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, United Arab Emirates (UAE). The Mint Group is approved by the UAE Central Bank, Mastercard and UnionPay as a third-party payment processor. Mint processes over US$1 billion in payroll annually for hundreds of corporate clients and financial institutions and the Mint community consists of approximately 400,000 cardholders. Mint’s clients include some of the leading blue-chip companies in the UAE. Gateway is 51% beneficially owned by Mint.

Mint provides employers with automated payroll services and a proprietary Automated Teller Machine (ATM) network for their unbanked employees. Mint community members are issued a personalized, globally accepted, MasterCard or UnionPay card and a linked mobile wallet, where their salaries are deposited. This mobile wallet effectively becomes the employee’s bank account.

Mint intends to offer a comprehensive suite of services through the mobile wallet, including remittance, overdraft, loans, mobile phone top-up, rewards, and insurance, among others. The mobile wallet enables unbanked employees to purchase services and spend through the wallet.