CINS Holding Corp. - Corporate Update
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/
RICHMOND, BC, Sept. 4, 2012 /CNW/ - CINS Holding Corp. (TSXV: GNW.H) (the "Company") is pleased to announced that, on August 31, 2012, the Company closed the transaction under the Share Purchase Agreement ("Share Purchase Agreement") with CINS Holding Limited ("CINS"), a holding company incorporated under the laws of Hong Kong, and the shareholders of CINS ("CINS Shareholders"), per the terms as disclosed in more details in the Company's August 28, 2012 news release.
The Company has acquired all of the CINS Shares previously held by CINS Shareholders in the capital of CINS. CINS has become a wholly owned subsidiary of the Company as of August 31, 2012.
The Company has issued an aggregate of 3,996,770 common shares, 3,684,221 $0.25 Warrants and 312,549 $0.50 Warrants to the CINS shareholders who participated in the financing.
The Company has issued an aggregate of 15,390,313 common shares and 63,131,687 Special Warrants, all of which are held in escrow, to the founding shareholders of CINS.
As of August 31, 2012, the CINS Shareholders hold 19,387,083 common shares of the Company or approximately 90.65% of the outstanding 21,387,083 common shares.
Neither the TSX Venture Exchange nor the Canadian National Stock Exchange has reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: CINS Holding Corp.For further information:
Sam Wang, CEO, CFO, President
CINS Holding Corp.
Tel.: (604) 773-1339