NEW YORK, Oct. 21, 2015
/PRNewswire/ -- Sino Mercury Acquisition Corp. (Nasdaq: SMAC,
SMACU, SMACR) ("Sino Mercury" or the
"Company"), today announced that its stockholders approved the
previously announced merger with Wins Financial Group Ltd.
("Wins"). Approximately 98% of the Company's outstanding
shares of stock were voted in favor of the transaction, with only
approximately 19% of the shares seeking conversion into a pro rata
portion of the funds held in the Company's trust account.
The parties intend to consummate the transaction within the next
several days.
About The Company
Wins is an integrated financing solution provider with
operations located primarily in Jinzhong City, Shanxi
Province as well as Beijing, China. Wins' goal is to assist Chinese SMEs,
including microenterprises, which have Ltd. access to financing, to
improve their overall fund-raising capability and enable them to
obtain funding for business development. Since its establishment in
2006, Winshas helped various SMEs obtain funding by providing them
financial guarantees, and financial leasing as well as advisory
services. For more information, please
visit www.winsfinance.com .
About Sino Mercury Acquisition Corp.
Sino Mercury Acquisition Corp. is a blank check company formed
in order to effect a merger, capital stock exchange, asset
acquisition or other similar business combination with one or more
businesses or entities. Sino was incorporated under the laws of
Delaware on March 28, 2014.The units from the initial public
offering (including the over-allotment option) were sold at an
offering price of $10.00 per unit,
generating total gross proceeds of $40,801,000.
Forward-looking Statements
This news release may include forward-looking statements.
All statements, other than statements of historical facts, included
in this news release that address activities, events or
developments that the Company expects or anticipates will or may
occur in the future are forward-looking statements. These
statements are based on certain assumptions and analyses made by
the Company in light of its experience and its perception of
historical trends, current conditions and expected future
developments as well as other factors it believes are appropriate
in the circumstances. However, whether actual results and
developments will conform to the Company's expectations and
predictions is subject to a number of risks and uncertainties.
Company Contacts:
Richard Xu, President
Sino Mercury Acquisition Corp.
590 Madison Avenue, 21st FL
New York, NY 10022
Tel: 646-480-9882
Email: Richard@sinomercury.com
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SOURCE Sino Mercury Acquisition Corp.