Mint Signs Participation Agreement
Toronto, Ontario--(Newsfile Corp. - June 5, 2019) - The Mint Corporation (TSXV: MIT) (OTCQB: MITJF) ("Mint") announces that it has entered into a participation agreement dated June 4, 2019 with the majority holders of secured debt in Gravitas Financial Inc. ("Gravitas") and Mint. In so doing, Mint has agreed to support a solicitation process which could result in a change in ownership or control of the Mint shares now owned by Gravitas and other shareholders of Mint and/or the debt now owing by Mint to Gravitas. The solicitation process could also result in restructuring proposals for consideration by Mint.
A target date of June 21, 2019 has been set for the selection of successful bids under the solicitation process, which Mint anticipates will lead to additional funding required by Mint to develop its business.
Gravitas owns approximately 53% of the shares in Mint on a non-diluted basis.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward-looking statements include the target date for the selection of the successful bids under the solicitation process and any additional funding which may arise out of the completion of the solicitation process. 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 success of the solicitation process in attracting bids, delays in receiving and assessing bids under the solicitation process, and the terms of the bids received under the solicitation process. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and Gravitas 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.
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
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