KOWLOON, HONG KONG--(Marketwired - Sept. 12, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
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.
Jay Leung of Kowloon, Hong Kong has directly acquired 23,361,112 preferred shares, series B of CanAsia Financial Inc. (the "Issuer") ("Preferred Share"). Each 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. Leung held 567,500 Common Shares and 1,075,000 stock options of the Issuer ("Options"). Mr. Leung now beneficially owns, controls or has direction over, directly or indirectly, 567,500 Common Shares representing 0.85% of the issued and outstanding Common Shares, 23,361,112 Preferred Shares and 1,075,000 Options. Assuming the conversion of the Preferred Shares and exercise of the Options owned by Mr. Leung, he will own 25,003,612 Common Shares representing 27.45% of the issued and outstanding Common Shares.
23,361,112 Preferred Shares were acquired as a gift by Mr. Leung for no monetary consideration. Mr. Leung intends to transfer the Preferred Shares to Zhang, Sicheng in the near future.
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.