CALGARY, Alberta, Oct. 05, 2017 (GLOBE NEWSWIRE) -- CanAsia Financial Inc. ("CanAsia" or the "Company") (NEX:CNA) is pleased to provide an update pertaining to the reinstatement of trading of the Company's shares.
On September 27, 2017, the Alberta Securities Commission, British Columbia Securities Commission and Ontario Securities Commission (collectively, the "Commissions") issued full revocation of their respective cease trade orders which were issued on May 5, 2016, May 12, 2016 and May 10, 2016, respectively. The cease trade orders were issued as a result of the Company's failure to meet a deadline to file annual audited financial statements, annual management's discussion and analysis, and certification of annual filings for the year ended December 31, 2015 (the "Filings"). The Filings were filed on SEDAR at www.sedar.com on June 23, 2017 as amended on July 28, 2017. In connection with the Company's application to the Commissions to revoke the cease trade orders, the Company provided an undertaking to hold an annual meeting of shareholders within three months of the date the cease trade order was revoked.
As a result of the aforementioned cease trade order revocations, the Company has been advised by the NEX, a separate board of the TSX Venture Exchange that its common shares, which have been suspended from trading since May 5, 2016, are scheduled for reinstatement of trading at the opening of the market on Friday, October 6, 2017.
About CanAsia
CanAsia is an Alberta based company listed on the NEX, a separate board of the TSX Venture Exchange. It is engaged in the business of developing unique new business opportunities in the Pacific Rim countries and elsewhere.
For further information, please contact James G. Louie, Chief Executive Officer at (403) 870‑7383 or via email louiejd@shaw.ca.
Advisory
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the resumption of trading of the Company's securities. Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates' and any other words of similar meaning are forward-looking. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond the Company's control. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in CanAsia's disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this press release and CanAsia does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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.