GINSMS Inc. announced that it has entered into an agreement with its controlling shareholder, Xinhua Mobile Limited, for an unsecured revolving credit facility of up to $1,000,000 (the "Credit Facility Agreement"). All outstanding principal amount under the Credit Facility Agreement shall bear interest at a rate of 28% per annum compounded on a daily basis. Any amount drawn by GINSMS under the Credit Facility Agreement on or before June 30, 2016 shall be repaid in full on June 30, 2017 and any amount drawn after June 30, 2016 shall be repaid in full on December 31, 2017 together with all interest accrued.

GINSMS will be able to make draws under the Credit Facility Agreement at any time on or before December 31, 2016, subject to the prior consent of Xinhua Mobile, and all repayments are to be made in cash. The amount to be borrowed under the Credit Facility Agreement will go towards operational and general corporate expenses. The board of directors of GINSMS reviewed and considered the Credit Facility Agreement proposed by Xinhua Mobile and unanimously approved its terms and conditions.