CanAsia Financial Inc.
TSX VENTURE : CNA.P

November 17, 2010 15:50 ET

CanAsia Financial Inc. Announces Filing of Final Long Form Prospectus

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2010) - CanAsia Financial Inc. (the "Company" or "CanAsia") (TSX VENTURE:CNA.P) announces that it has filed its final long form prospectus dated November 10, 2010 (the "Prospectus"), and has obtained a decision document dated November 15, 2010 for the Prospectus from the securities commissions in each of the provinces of Alberta, British Columbia, Saskatchewan and Ontario. The Prospectus qualifies the distribution of 36 million common shares of CanAsia at a deemed price of $0.10 per share and 29 million series B preferred shares of CanAsia at a deemed price of $0.10 per share, issuable to the shareholders of Mondeo Development Group Ltd. ("Mondeo") in connection with the completion of the Company's previously announced Qualifying Transaction (as that term is defined in the policies of the TSX Venture Exchange). The Qualifying Transaction is expected to close on or before November 30, 2010.

About CanAsia Financial Inc.

The Company is a CPC within the meaning of the policies of the Exchange. The Company commenced operations when it completed its initial public offering; however it currently has no assets other than cash. For further information regarding Mondeo and the terms of the Qualifying Transaction see the Prospectus filed on SEDAR at www.sedar.com.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Leede Financial Markets Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor in connection with the transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither 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

  • CanAsia Financial Inc.
    James G. Louie
    President and Chief Executive Officer
    (403) 870-7383
    (403) 242-7479 (FAX)
    or
    CanAsia Financial Inc.
    243 Sienna Hills Drive S.W.
    Calgary, Alberta T3H 2Y8