CBM Asia Development Corp.
TSX VENTURE : TCF
OTCBB : CBMDF
FRANKFURT : IY2

CBM Asia Development Corp.

April 10, 2012 17:15 ET

CBM Asia Closes Further Tranche of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 10, 2012) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

CBM Asia Development Corp. (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) ("CBM Asia" or the "Company") announces that further to its news release of March 9, 2012, the Company has completed a fourth (the "Fourth Tranche") of its non-brokered private placement totalling 2,976,765 units (the "Units") at a price of $0.18 per Unit for gross proceeds of $535,818.

Each Unit consists of one common share (a "Share") and one transferable share purchase warrant (a "Warrant") to purchase an additional Share at a price of $0.35 for a period of 24 months, subject to acceleration by the Company, at its discretion, after 4 months from closing upon 30 days notice if the closing price of the Company's shares on the TSX Venture Exchange (the "Exchange") equals or exceed $0.50 per share for 20 consecutive trading days.

Finder's fees of up to 6.25% cash and finder's warrants of up to 6.25% of the Units sold are payable in connection with the Fourth Tranche. Each finder's warrant will entitle the holder thereof to purchase one share of the Company at a price of $0.18 for a period of 24 months, subject to acceleration on the same basis as the warrants forming part of the Units. All securities issued pursuant to the Fourth Tranche are subject to a 4 month hold period expiring August 6, 2012.

To date, the Company has issued a total of 76,096,014 Units representing gross proceeds of $13,697,283. A final closing of 12,876,208 Units for additional proceeds of $2,317,718 for a total offering of $16,015,000 is anticipated to close within the next 3 to 4 weeks following receipt of Exchange approval. There are currently a total of 154,885,601 common shares outstanding.

ABOUT CBM ASIA DEVELOPMENT CORP.

CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia. The Company holds various participating interests in four production sharing contracts (each a "PSC") for CBM in Indonesia. Indonesia has one of the largest CBM resources in the world with a potential 453 trillion cubic feet in-place, more than double the country's natural gas reserves (Stevens and Hadiyanto, 2004). Since 2008 a total of 39 CBM PSCs have been granted by the Government of Indonesia, representing exploration commitments of over US$100 million during the next 3 years. In addition to CBM Asia, other companies active in CBM exploration in Indonesia include BP, Dart Energy, ENI, ExxonMobil, Medco, Santos, and TOTAL. BP, ENI, and the Indonesian government have confirmed that commercial CBM production started in March 2011 from the Sanga-Sanga PSC and is being exported from the Bontang LNG facility. The Company trades on the TSX Venture Exchange under the symbol "TCF". www.cbmasia.ca.

ON BEHALF OF CBM ASIA DEVELOPMENT CORP.

Alan T. Charuk, President & CEO

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our Canadian continuous disclosure filings available on SEDAR at www.sedar.com including our annual MD&A dated April 27, 2011. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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.

Contact Information