Toronto, Ontario–(Newsfile Corp. – August 21, 2020) – The Mint Corporation (TSXV: MIT) (“Mint” or the “Company“) today announced in accordance with Ontario Instrument 51-505 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 of the Ontario Securities Commission (the “Blanket Exemption Order“), which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posted by the COVID-19 pandemic, that it will be delaying the filing and delivery of certain of its continuous disclosure documents.
The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its interim financial statements and related management discussion and analysis for the three month and six month periods ended June 30, 2020 (collectively the “Required Quarterly Filings“), and (ii) compliance with the delivery requirements of applicable securities laws relating to the Required Quarterly Filings. The officers and directors of the Company and certain other persons will remain subject to a trading black-out pursuant to which such persons are prohibited from trading in any securities of the Company until the end of the second full trading day following the day on which the Required Quarterly Filings are filed on SEDAR and a corresponding news release is issued by the Company.
There have been no material business developments since the date of the Company’s unaudited interim condensed consolidated financial statements for the three-months ended March 31, 2020 and 2019 that were filed on July 15, 2020.
The Company currently intends to make the Required Quarterly Filings by September 15, 2020.
Mint also announces that Brian Hendry, Chief Financial Officer, has resigned effective September 4, 2020. On behalf of our board of directors, I thank Brian for his valuable service, insights and contributions and helping Mint manage through a significant transition and wish him well in future endeavors,” stated Vishy Karamadam, Chairman & CEO of Mint.
Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or our future performance and, in certain cases, can be identified by the use of words such as “estimated” “intends”, “plans”, “expects”, “anticipates”, or variations of such words and phrases as statements that certain actions, events or results “may”, “can”, will”, “might”, “shall”, “would” occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include the timing of filing the Required Quarterly Filings. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements 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. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the severity, duration and effects of the COVID-19 pandemic and the ability of the Company and its advisors to complete the Required Quarterly Filings by September 15, 2020. 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. These forward-looking statements are subject to certain risks and uncertainties and other risks detailed from time-to-time in Mint’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. These forward looking statements are made as of the date of this news release and Mint disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.
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
Not for Distribution in the United States