Expecting prospectus close today Today could be very interesting, time to buy before the SP raise.
During September 2012, Mint raised $3,500,000 through the private placement of secured Series VI debentures. The debenture interest rate is 12% payable quarterly in arrears and is due to be repaid September 13, 2014. The securities issued today are subject to a hold period expiring on January 14, 2013. The proceeds of this closing will be used for working capital and, if required, to settle a portion of the purchase price for Speed Remit
Mint's acquisition of the money transfer business, Speed Remit Worldwide ("Speed Remit"), remains in progress and there is an anticipated closing date of January 15, 2013.