CBM Asia Completes Final Tranche of $16.0 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2012) -

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CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) is pleased to announce that it has completed the final tranche (the "Final Tranche") of its non-brokered private placement totalling 12,876,208 units (the "Units") at a price of $0.18 per Unit for gross proceeds of $2,317,717. In total, the Company issued 88,972,222 Units representing gross proceeds of $16,015,000 for a total of 167,761,809 common shares currently outstanding.

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 5% cash and finder's warrants of 5% of the Units sold are payable in connection with the Final 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 Final Tranche are subject to a 4 month hold period expiring October 6, 2012.

"With the closure of the final tranche, we have secured our 2012 financing requirements and increased institutional ownership to 35%, with Indus Capital Partners holding a 16.6% interest," comments Alan Charuk, CBM Asia's President and CEO. "With capital raise behind us we look forward to executing our growth plans to obtain a 10-15 Tcf recoverable resource base."

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 26, 2012. 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.