Genius World Investments Limited - Corporate Update

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/

RICHMOND, BC, June 27, 2012 /CNW/ - Genius World Investments Limited (TSXV: GNW.H) held its Special Meeting ("Meeting") of the shareholders of the Company on June 26, 2012, in which all matters placed before the shareholders were approved.  The following is a summary of the voting report of the Meeting:

Common Shares represented at the meeting: 1,077,000 or 35.9%

Total outstanding Common Shares as at record date: 3,000,000

1.   The shareholders voted on a motion to approve the proposed transaction with CINS Holding Limited and to authorize the directors of the Company to carry out any act for and on behalf of the Company and to execute and deliver such deeds, documents and other instruments in writing as necessary for the purpose of completion of the proposed transaction.  The motion was carried and the results of the vote were as follows:
     
    For the motion: 1,077,000 (100%)
     
2.   The disinterested shareholders voted on a motion to authorize the Company to delist from the NEX board of the TSX Venture Exchange ("TSXV") and to redirect the Company's remaining assets by applying to list on the Canadian National Stock Exchange ("CNSX") and to make all such arrangements, to do all acts and things, and to sign and execute all documents and instruments, whether under the corporate seal of the Company or otherwise, as may be considered necessary or advisable to give full force and effect to the foregoing, including without limitation any changes to the Company's existing stock option plan and existing escrow agreement in keeping with the new listing and all applicable requirements of CNSX rather than TSXV. The motion was carried and the results of the vote were as follows:
     
    For the motion: 227,000, being 100% of the disinterested shareholders voted.
     
3.   The shareholders voted on a motion to approve a change of name of the Company from "Genius World Investments Limited" to "CINS Holding Corp." and to approve the amendment and adoption of the Memorandum of Association and Articles of Association to reflect the new name of the Company.  The motion was carried and the results of the vote were as follows:
     
    For the motion: 1,077,000 (100%)
     
4.   The shareholders voted on a motion to authorize the Company to reissue 1,000,000 common shares of the Company to the Company's directors, whose corresponding shares are to be cancelled upon delisting from NEX, for nominal consideration and in compliance with any applicable policies of CNSX, subject to completion of the proposed transaction with CINS Holding Limited and listing on CNSX.  The motion was carried and the results of the vote were as follows:
     
    For the motion: 1,077,000 (100%)
     
5.   The shareholders voted on a motion brought to the Meeting to authorize the Board of Directors of the Company, upon the completion of the proposed transaction with CINS Holding Limited, to appoint three additional individuals, being Chung Yan Lee, Shu Wai Chan and George Dorin, to the Board of Directors of the Company.  The motion was carried and the results of the vote were as follows:
     
    For the motion: 1,077,000 (100%)
     
6.   The shareholders voted on a motion brought to the Meeting to approve the creation of new Control Person(s) pursuant to the proposed transaction with CINS Holding Limited and any financing thereof.  The motion was carried and the results of the vote were as follows:
     
    For the motion: 1,077,000 (100%)

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

SOURCE Genius World Investments Limited

For further information:

Sam Wang, CEO, CFO, President

Genius World Investments Limited
Tel.: (604) 773-1339
Email samwang@crif.ca

Profil de l'entreprise

Genius World Investments Limited

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