Hong Kong--(Newsfile Corp. - February 28, 2014) -
CINS Holding Corp. (CSE: CHD) (the “Company or CINSHC”) is pleased to announce that it has signed a letter of intent (the “LOI”) with the Managing Committee of Zhenjiang New
District in Zhenjiang City of Jiangsu Province, China to develop a mobile internet industrial park (the “Park”) in Zhenjiang New District, Zhenjiang, China. It is outlined in the LOI that the total investment will be $100 million in
US dollars for the construction of buildings of 150,000 square meters on two pieces of land of 73,333 square metres in total. The required funds for investment will be financed through a private placement that will be determined later. The Company
intends to carry out this business through a wholly owned subsidiary to be incorporated in Zhenjiang, China by CINS Holding Limited, which is a wholly owned subsidiary of the Company. The new wholly owned subsidiary (the “NewSub”) will
be a wholly foreign owned entity. The NewSub will be the developer of the Park. The NewSub will also be responsible for recruiting new high-tech companies to the Park and the daily operation and management of the Park. The Company will conduct
feasibility study after signing the LOI.
The LOI is preliminary and is not legally binding. A more detailed agreement will be developed once both parties have decided to pursue the mobile internet industrial park project.
On behalf of the Board of Directors
CINS Holding Corp.
Bruce Lee
President and Director
Telephone: +852-9059 8161
E-mail: brucelee@cins.asia
WARNING: This news release contains forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of risk factors beyond its control, and actual results
may differ materially from the expected results. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those
forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risk that the Company may not proceed or alter its growth strategy, the
Chinese government may change its policies with regard to foreign investment, the Company’s future growth prospects may not be as expected, the feasibility study may not warrant the undertaking of this propose project, the Company may not be
able to obtain any required financing to start or complete this project on acceptable terms or at all.
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