Mint Provides Management Update
TORONTO, ONTARIO--(Marketwire - Feb. 14, 2012) -
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Mint Technology Corp. ("Mint") (TSX VENTURE:MIT) announces today an update as guidance to the market of the Company's recent business development announcements:
Mint Money
Referring to the announcement on December 29, 2011, Mint Money ("MM") has completed investor presentations in the United States and is currently negotiating terms for the US$50,000,000 structured credit facility necessary to launch MM's microcredit and payday loan products. Subject to a satisfactory facility being approved, Mint expects MM to begin approving loans no later than March 31 , 2012. Mint reaffirms its expectation that an excess of 40,000 loan contracts (10% of our current payroll card customer base) will be closed during the 2012 fiscal period.
Mint Egypt
Mint refers to the announcement on January 16, 2012, and can confirm that Mint Egypt has now opened an office in Cairo, appointed legal and accounting advisors, and completed draft contracts which are now in the hands of our clients' legal representatives. A further update will be provided in the next 14 days on progress to execute these agreements and commence business operations. In addition, proposals have been sought from 3 specialist vendors for the biometric component of our successful contract bid and these are currently being evaluated.
payday loan in canada money - News
Tim Morrison, calling Esquimalt a "mecca for money stores," voted in favour of capping the payday-loan stores at the existing five. At council's request after a fifth money store outlet announced last fall that it was setting up shop in Esquimalt,
Rules to improve lending practices by payday loan companies are unlikely to offer greater protection for customers in the near future, consumer rights campaigners have warned. An updated code of practice announced by the Finance and Leasing Association
Tim Morrison, calling Esquimalt a "mecca for money stores," voted in favour of capping the payday-loan stores at the existing five. At council's request after a fifth money store outlet announced last fall that it was setting up shop in Esquimalt,
Welcome to the office of Oakam — a payday loan company where all of these women are about to join the growing number being targeted to take out loans with eye-watering rates of interest, which with some companies can be up to 16000 per cent.
Forward-looking statements include the approval of microcredit and payday loans through Mint Money by March 31 st , 2012, the closing of a minimum of 40000 loan contracts in fiscal 2012, the commencement of online testing of Mint Global Processing's
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