The Mint Corporation

Acquisition of a UAE Financial Company

TORONTO, ONTARIO--(Marketwired - March 21, 2017) - The Mint Corporation (TSX VENTURE:MIT) ("Mint" or the "Company") announces that, further to its news release of February 2, 2017, Gravitas Financial Inc. ("GFI") through its holding company has advanced USD $5.45 Million as a deposit to secure the right to acquire the UAE Central Bank licensed financial company referred to in that news release (the "Financial Company"). The purchase price is 100 million UAE Dirham (approximately USD$27.25 million), of which approximately USD $15 million is due at closing, subject to adjustments.

GFI and Global Business Services for Multimedia ("GBS") have each agreed to provide USD $7.5 million of funding to acquire the Financial Company and also agreed to fund another USD $7.5 million each to satisfy ongoing UAE Central Bank capital reserve requirements. The first USD $15 million will be used to acquire 97.22% of the Financial Company. If the transaction were to close, the Financial Company on closing will have a cash balance of USD$9.54 million.

In order to complete the acquisition of the Financial Company, the parties must obtain financing to fund the remaining portion of the purchase price, obtain UAE Central Bank approval, complete their due diligence and enter into definitive agreements. The participation of the Mint Group (as defined below) in this transaction is also subject to stock exchange approval.

The acquisition of the Financial Company will occur through a holding company formed in the UAE. GBS and GFI will each hold a 25% beneficial ownership interest in that holding company. Mint Gateway for Electronic Payment Services LLC ("Mint Gateway") will own the remaining 50% beneficial interest. Mint Gateway is a company in which Mint owns, indirectly, a 51% beneficial interest and GBS owns a 49% beneficial interest. The holding company and the Financial Company will both have a board of directors consisting of 5 directors, 3 of whom will be appointed by GBS and 2 of whom will be appointed by GFI.

Mint Middle East LLC, a company 51% owned by Mint, and Mint Gateway (collectively the "Mint Group") will use the Financial Company as their BIN sponsor. The Mint Group will also provide sourcing, disbursement, collection, customer care and marketing services to the Financial Company and will promote all products of the Financial Company on an exclusive basis to customers of the Mint Group.