Mint Applies for U.S. OTCQB Listing
November 1, 2018 (Source) — The Mint Corporation (TSX-V: MIT) (“Mint”) is pleased to announce that it has begun the process to list on the OTCQB Venture Market. The OTCQB Venture Market provides efficient access to U.S. investors, helping Canadian companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation.
The OTCQB in the United States is similar to the TSX-V in Canada for early stage and developing international companies. To be eligible for the OTCQB, companies must be current in their financial reporting, pass a minimum bid price test and undergo an annual company verification and management certification process.
“Trading on OTCQB signals to the U.S. market Mint’s desire to offer a high level of transparency and convenience to U.S. investors while trading on a credible U.S. market tier,” said Vishy Karamadam, CEO of The Mint Corporation. The U.S. exposure afforded by OTCQB is also a logical step in the evolution of the Company, he noted.
The Mint Corporation (TSXV: MIT), 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 (UAE). The Mint Group is approved by the UAE Central Bank, Mastercard and UnionPay as a third-party payment processor. Mint Group processes over US$1 billion in payroll annually for hundreds of corporate clients and financial institutions and the Mint Group community consists of approximately 400,000+ cardholders. Mint Group’s clients include some of the leading blue-chip companies in the UAE.
Mint Group provides employers with automated payroll services and a proprietary Automated Teller Machine (ATM) network for their unbanked employees. Mint Group community members are issued a personalized, globally accepted, Mastercard or UnionPay card and a linked mobile application, where their salaries are deposited. This mobile application effectively becomes the employee’s bank account.
Mint Group offers a mobile application with mobile phone top-up services and intends to offer a comprehensive suite of services, including remittance, overdraft, loans, and insurance, among others (subject to regulatory approval). The mobile application enables unbanked employees to purchase services and spend through the application.
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
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