CALGARY, ALBERTA--(Marketwire - Nov. 28, 2011) - CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) announces that Mondeo Development Group Ltd., a wholly-owned subsidiary of CanAsia, has changed its name to Pacific Mobile Inc. ("Pacific Mobile"). Pacific Mobile has the exclusive rights to design, manufacture and distribute Hyundai mobile phones for the Philippine markets.
Pacific Mobile has produced its first two new models of Hyundai mobile phones, HYUNDAI H300 and HYUNDAI Q800, and received the certificate de conformite ("CE") for these models. The CE certified compliance of these products with the essential health and safety requirements of the relevant CE directives enables these units to be sold on any of the CE certification markets. Both H300 and Q800 models are multi-function feature phones tailored for the mid-market consumers in the Philippines. The first shipment of 6,000 units of these new models is scheduled for delivery next week. Additional shipments are expected to follow subsequent to the holiday season's promotions.
Pacific Mobile will continue to develop new models of Hyundai phones and seek revolutionary mobile technologies, market expertise and capital to support its growth.
About Hyundai Corporation
Hyundai Corporation is one of Korea's leading companies involving in a wide range of businesses including steel, heavy machinery, ships, automobiles, electronics and basic commodities. It is also working with select partners to bring Hyundai-branded electronics and other consumer products to households worldwide, and has seen remarkable growth in the sale of mobile phones, digital cameras and home audio/video systems. Hyundai Corporation has many years of experience in global trade, solid financing capabilities, and unparalleled regional and local expertise through its network worldwide. (www.hyundaicorp.com)
About CanAsia
CanAsia is an Alberta registered company listed on the TSXV. It engages in the business of original design, manufacture and distribution of Hyundai brand mobile phones for the Philippines and components of mobile camera modules to leading mobile phone and computer makers in China. It is one of the six independent mobile camera module manufacturers in China producing high resolution camera modules higher than 3 million pixels. Pacific has an in-house Class-100 Clean Room facility which is required for state of the art Chip on Board and Chip of Flex technological applications. CanAsia has offices in Canada, Hong Kong, China and the Philippines, with a total staff of approximately 135. (www.canasiafinancial.com)
Forward-looking statements:
This press release may contain forward-looking statements about certain of the Company's current plans, goals and expectations relating to future sales of cell phones and financial conditions, performance, results, strategy and objectives. Statements containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and 'anticipates' and any other words of similar meaning are forward-looking. All forward-looking statements involve risk and uncertainty because they relate to future events and circumstances beyond the Company's control. As a result, the Company's actual financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
The TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or the accuracy of this release.
Contact Information:
Barry Pearson
Director
(403) 836-9118
contactus@canasiafinancial.com