Zhang, Sicheng

November 04, 2013 13:30 ET

Zhang, Sicheng: Press Release

BEIJING, CHINA--(Marketwired - Nov. 4, 2013) -


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.

Zhang, Sicheng of Beijing, People's Republic of China has directly acquired 24,000,000 preferred shares, series B of CanAsia Financial Inc. (the "Issuer") ("Series B Preferred Shares"). Each Series B Preferred Share is convertible into one common share of the Issuer ("Common Share") at no additional cost to the holder for a period of five (5) years from the date the Issuer completed its Qualifying Transaction which occurred on November 25, 2010.

Prior to the acquisition, Mr. Zhang, owned 5,000,000 Common Shares, 15,000,000 preferred shares, series C of the Issuer ("Series C Preferred Shares") and 7,500,000 share purchase warrants of the Issuer ("Warrants"). Mr. Zhang now beneficially owns, controls or has direction over, directly, 5,000,000 Common Shares, representing 7.50% of the issued and outstanding Common Shares, 24,000,000 Series B Preferred Shares, 15,000,000 Series C Preferred Shares and 7,500,000 Warrants. Assuming the conversion of the Series B Preferred Shares and Series C Preferred Shares and exercise of the Warrants owned by Mr. Zhang, he will own 51,500,000 Common Shares representing 42.50% of the issued and outstanding Common Shares.

24,000,000 Series B Preferred Shares were acquired by Mr. Zhang for total consideration of $600,000. Mr. Zhang intends to evaluate these holdings and to increase or decrease 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

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