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| Home : Grant of an Option on Convertible Debentures of GINSMS by One Heart International Limited to Xinhua Mobile Limited |
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Apr 03
2015 |
Grant of an Option on Convertible Debentures of GINSMS by One Heart International Limited to Xinhua Mobile Limited |
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CALGARY, ALBERTA--(Marketwired - April 2, 2015) - GINSMS Inc. (TSX VENTURE:GOK) (the "Corporation" or "GINSMS") would like to inform the market that as part of the change of control of GINSMS in favour of Xinhua Mobile Limited announced January 15, 2015, One Heart International Limited ("One Heart"), the current holder of all issued and outstanding convertible debentures of the Corporation (collectively, the "Convertible Debentures"), granted an option (the "Option") to purchase Convertible Debentures with principal amount of $6,255,484 to Xinhua Mobile Limited ("Xinhua Mobile"). The exercise price of the Option is equal to the face value of the Convertible Debentures and it is exercisable at any time at the option of Xinhua Mobile until the maturity date of the Convertible Debentures covered by the Option. The Convertible Debentures are unsecured, mature on September 28, 2015 and may be converted into common shares of the Corporation at any time prior to their maturity date at a price of $0.10 per common share, subject to certain restrictions. |
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| Source:http://www.marketwired.com/mw/release.do?id=2006528&sourceType=3 |
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