/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