Mr. Vishy Karamadam reports

MINT TO PROVIDE CORPORATE UPDATE

The Mint Corp. has provided a corporate update on its business and the status of its trading.

Business update

Mint primarily operates its business through its 51 per cent ownership in Mint Middle East LLC (MME) which has made significant inroads in its effort to obtain a bank licence to facilitate the launch of fintech products and services. In January, 2023, MME applied for a banking licence in United Arab Emirates and has made significant progress in this initiative with market regulators in the United Arab Emirates. Given the highly complex nature of this initiative, including capital and regulatory process involved, there is no assurance that MME will be successful in obtaining a bank licence to operate in the United Arab Emirates.

MME continues to maintain its core operating and management team, technology infrastructure and key relationships in order to assist with launching additional products and services. The term of MME's non-compete period from its previously announced divestment of its card portfolio has expired. Accordingly, MME is also evaluating the launch of additional fintech products and services, including payroll products, in partnership with other financial institutions. It is expected that these products will be complementary to obtaining a bank licence in the UAE.

Revocation of cease trade

The company announces the full revocation of the failure-to-file cease trade order (the FFCTO) by the Ontario Securities Commission (the OSC) and the reinstatement of its common shares for trading on the TSX Venture Exchange.

As previously announced on May 15, 2023, the OSC issued the FFCTO against the corporation as a result of the corporation's inability to file its (i) annual audited financial statements for the year ended Dec. 31, 2022, (ii) management's discussion and analysis for the period ended Dec. 31, 2022, and (iii) certification of annual filings for the period ended Dec. 31, 2022, in each case within the time frame prescribed by National Instrument 51-102.

As previously announced on June 19, 2023, Mint filed its unaudited financial statements and related management discussion and analysis for the first quarter ended March 31, 2023, and filed its unaudited financial statements and related management discussion and analysis for the second quarter ended June 30, 2023, on Aug. 29, 2023.

The corporation is pleased to report that the FFCTO was fully revoked by the OSC on June 20, 2023. Further to the revocation of the FFCTO, the company obtained the reinstatement of trading in its common shares through the facilities of the TSX-V to be effective at the opening on Thursday, Oct. 5, 2023.

Shareholders meeting

The company also announced that it intends to hold its annual and special meeting of its shareholders on Nov. 6, 2023, with shareholders of record as of Oct. 2, 2023, being entitled to vote thereat. A copy of the notice has been filed by the company's transfer agent on SEDAR+. A management information circular and proxy will be made available on SEDAR+ in due course and disseminated to shareholders in accordance with applicable securities laws.

About The Mint Corp.

Mint through its majority-owned subsidiaries is a globally certified payment 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 through payroll cards and the feature-rich and linked Mint mobile application. Through its mobile-enabled payment platform certified globally by MasterCard and UnionPay, Mint brings modern financial conveniences, at reasonable cost, to employers, merchants and consumers.

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