GINSMS Inc.
TSX VENTURE : GOK

GINSMS Inc.

September 24, 2015 16:47 ET

Convertible Debentures Holders Converted All Convertible Debentures Into Common Shares of GINSMS

CALGARY, ALBERTA--(Marketwired - Sept. 24, 2015) - GINSMS Inc. (TSX VENTURE:GOK) (the "Corporation" or "GINSMS") today received a notice of conversion from each of its convertible debentures holders. This will result in the conversion of all outstanding convertible debentures of the Corporation (the "Convertible Debentures") having an aggregate principal amount of C$9,109,267 into 91,092,670 common shares of GINSMS, at the conversion price of C$0.10 per common share.

As a result, Xinhua Mobile Limited ("XMobile") will convert Convertible Debentures having an aggregate principal amount of C$6,255,484 into 62,554,840 common shares of GINSMS and Inphosoft Pte. Limited ("IPL") will convert Convertible Debentures having an aggregate principal amount of C$2,853,783 into 28,537,830 common shares of GINSMS. Each Convertible Debenture is unsecured, mature on September 28, 2015 and may be converted into common shares of the Corporation at any time prior to their maturity at a price of C$0.10 per common share.

After the conversion, XMobile, together with its current ownership of 28,123,320 common shares or 54.57% of all issued and outstanding common shares of the Corporation, will own 90,678,160 common shares of Corporation or 63.58% of all issued and outstanding common shares of the Corporation while IPL will own 28,537,830 common shares of GINSMS or 20.01% of all issued and outstanding common shares of the Corporation.

About GINSMS

GINSMS is a mobile technology and services company focusing on 2 areas namely cloud-based application-to-peer ("A2P") messaging service and Software Products & Services. GINSMS operates a cloud-based A2P messaging service that allows the termination of SMS to mobile subscribers of more than 200 mobile operators globally. GINSMS also develops and distribute innovative software products and services for mobile operators and enterprises and have successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • GINSMS Inc.
    Joel Chin
    Chief Executive Officer
    +6564411029