CanAsia Financial Inc.

May 05, 2009 12:14 ET

CanAsia Financial Inc.: News Release

CALGARY, ALBERTA--(Marketwire - May 5, 2009) - The trading of CanAsia Financial Inc. (the "Company" or "CanAsia") stock had been halted pending announcement of an Agreement in Principle entered into by the Company. The Agreement in Principle has subsequently been terminated as certain terms of the agreement did not meet conditions required under applicable policies of the TSX Venture Exchange (the "Exchange"). As a result of the termination of the agreement, the Company's stock is expected to recommence trading within two business days of the issue of this press release. CanAsia will continue to assess and evaluate suitable alternative qualifying transaction candidates for the Company, including potentially, renegotiation of certain terms of the terminated agreement.

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. Since the date of listing of the Company's shares on the Exchange, the Company has identified and evaluated several businesses and assets with a view to completing a "Qualifying Transaction" under the Exchange's CPC policies.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSXV 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)
    CanAsia Financial Inc.
    243 Sienna Hills Drive S.W.
    Calgary, Alberta T3H 2Y8