Toronto, Ontario--(Newsfile Corp. - May 15, 2023) - The Mint Corporation (TSXV: MIT) ("Mint" or the "Company") announces that, it has been issued a Cease Trade Order ("CTO") by the Ontario Securities Commission on May 5, 2023 by virtue of having not filed the following periodic disclosure documents by the applicable filing deadlines:
- Annual audited financial statements for the year ended December 31, 2022;
- Management's Discussion and Analysis for the period ended December 31, 2022; and
- Certification of annual filings for the period ended December 31, 2022.
The delay is due to the complexity of having to obtain financial information from its operating subsidiary based in the United Arab Emirates resulting in the Company and its auditors not having adequate time and resources available to complete the audit in the allotted time. The Company is working diligently with its auditor, PKF Antares Professional Corporation, to complete the audit and issue the disclosures by May 31, 2023. The Company will issue advice by news release should any further delays be foreseen.
The Company continues to operate normally and reports that the cause of the delay is not material to the Company's operations. Mint will issue a news release announcing completion of the requisite filings once posted on SEDAR.
Despite the CTO, a beneficial security holder of the Company who is not, and was not at the date of the CTO, an insider or control person of the Company, may sell securities of the Company acquired before the date of the CTO if: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company's securities are urged to consult with their own investment advisors or legal counsel about the implications of the CTO.
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, United Arab Emirates. The Mint Group intends to provide 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.
Mint Contacts
The Mint Corporation
Vishy Karamadam, Chief Executive Officer
647-352-0666
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Forward-Looking Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. There is no assurance that these transactions will yield results in line with management expectations. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risk factors are provided in the audited financial statements of the Company for the year ended December 31, 2021 and its publicly filed disclosure documents on . Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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