Zhang, Sicheng

September 12, 2013 14:12 ET

Zhang, Sicheng: Press Release

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

BEIJING, CHINA--(Marketwired - Sept. 12, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Zhang, Sicheng of Apt 86, Building 17, Beijing Normal College, Beijing 100037, People's Republic of China, has directly acquired 5,000,000 common shares (the "Common Shares") of CanAsia Financial Inc. (the "Issuer") at a price of $0.025 per Common Share and 15,000,000 units (the "Units") of the Issuer at a price of $0.05 per Unit. Each Unit is comprised of one preferred share, series C of the Issuer ("Preferred Share") and one-half of one share purchase warrant of the Issuer ("Warrant"). Each Preferred Share is convertible into one Common Share at no additional cost to the holder for a period of five (5) years. Each whole Warrant entitles the holder to one Common Share at an exercise price of $0.20 per Common Share expiring five (5) years from the date of issuance.

Prior to the acquisition, Mr. Zhang, did not own or control any securities of the Issuer. Mr. Zhang now beneficially owns, controls or has direction over, directly or indirectly, 5,000,000 Common Shares representing 7.50% of the issued and outstanding Common Shares, 15,000,000 Preferred Shares and 7,500,000 Warrants. Assuming the conversion of the Preferred Shares and exercise of the Warrants owned by Mr. Zhang, he will own 27,500,000 Common Share representing 30.84% of the issued and outstanding Common Shares.

5,000,000 Common Shares were acquired for investment purposes by Mr. Zhang through the private placement of the Issuer of Common Shares at a price of $0.025 per Common Share for consideration of $125,000. 15,000,000 Units comprised of 15,000,000 Preferred Shares and 7,500,000 Warrants were acquired for investment purposes by Mr. Zhang through the private placement of the Issuer of Units at a price of $0.05 per Unit for consideration of $750,000. Mr. Zhang intends to evaluate these holdings and to increase his investment in the Issuer as circumstances warrant.

A report respecting this acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Issuer's profile at www.sedar.com.

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.

Zhang, Sicheng

Contact Information

  • Zhang, Sicheng
    +8613901047910