Hong Kong, China--(Newsfile Corp. - December 17, 2014) -
CINS Holding Corp. (CSE: CHD) (the "Company") announced that at the Annual General and Special Meeting (the "Meeting") of the shareholders held on December 17, 2014, the following
persons were elected as directors: Chung Yan Lee, Sheng (Sam) Wang, George Dorin, Stephen So, and Shu Wai (Jimmy) Chan. The Company's Stock Option Plan dated November 8, 2007, as amended and restated September 28, 2012, was also approved until
the next Meeting. MNP LLP has been reappointed as the auditor of the Company for the ensuing year.
At a Board meeting held immediately following the Meeting on December 17, 2014, Chung Yan Lee was elected Chairman and President and reappointed Chief Executive Officer of the Company. Sheng (Sam) Wang, CGA was reappointed as Chief Financial Officer
and Corporate Secretary. The Company's Audit Committee, and Compensation and Corporate Governance Committee were also reconstituted for the ensuing year. The Audit Committee has three members which include George Dorin (Chairman), Stephen So,
and Shu Wai Chan. The Compensation and Corporate Governance Committee has three members which include George Dorin, Stephen So (Chairman), and Sheng (Sam) Wang. George Dorin, Stephen So, and Shu Wai Chan are considered Independent Directors. Mr.
Bruce Lee has resigned as president of the Company effective December 17, 2014 due to personal reasons. The Company would like to thank Mr. Bruce Lee for his contribution and wishes him all the best with his future endeavors.
Further to the news release dated November 18, 2014, the Company has terminated the letter of intent with Chengcheng E-Commerce Co., Ltd. ("Chengcheng") after having conducted additional due diligence on Chengcheng. Chengcheng has
notified the Company in writing that the termination of the LOI was by mutual understanding.
About CINS Holding Corp.
CINS Holding Corp. is an emerging technology company focusing on online game software research and development. The Company carries out its business through its wholly owned subsidiary Dongguan CINS Technology Co., Ltd. and Zhenjiang Sheng Si
Network Technology Co., Ltd. in China.
CINS Holding Corp. currently has 21,664,902 common shares issued and outstanding.
On behalf of the Board of Directors
CINS Holding Corp.
Sam Wang
Chief Financial Officer and Director
Telephone: (604) 773-1339
E-mail samwang@crif.ca.
WARNING: This news release may contain 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 exploration and other risk factors beyond its
control, and actual results may differ materially from the expected results.
/Not for dissemination in the United States or through U.S. newswires/
copyright (c) newsfile corp. 2014. all rights reserved