CanAsia Announces Exempt Issuer Bid and Corporate Updates

CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) announces
that, subject to regulatory approval, pursuant to an agreement between the
Company and a non-arm's length party dated November 1, 2013, it has cancelled
2,300,000 common shares of the Corporation ("Common Shares") for no
consideration and returned the Common Shares to treasury. The Common Shares are
being cancelled by way of an exempt issuer bid pursuant to applicable securities
laws. 


Following the cancellation of the 2,300,000 Common Shares, CanAsia will have
72,390,274 Common Shares, 29,000,000 non-voting preferred shares, series B and
15,000,000 non-voting preferred shares, series C issued and outstanding.


The Company also announces that, further to its press release dated August 28,
2013, the Company has issued 8,026,274 Common Shares at a deemed price of $0.05
per Common Share for payment of outstanding debts of $401,313.70 owed to
creditors of the Company. The Common Shares issued by the Company have a hold
period of four months from the date of issuance in accordance with applicable
securities legislation.


In addition, further to the Company's press release dated September 11, 2013,
the proceeds of the offering of Common Shares at a price of $0.025 per share
will be used for the following purposes:




Use of Proceeds                                                     Amount
                                                                          
Audit fees                                                $         97,250
                                                                          
Professional services                                     $        146,280
                                                                          
Office rent                                               $            157
                                                                          
Transfer Agent services                                   $            500
                                                                          
Advisors and technical consultants                        $         21,000
                                                                          
Legal fees                                                $         16,908
                                                                          
Professional fees and expenses incurred to complete the                   
 offering                                                 $         20,000
                                                                          
Consulting fees                                           $         10,000
                                                                          
Outstanding management fees and salaries (CEO & CFO)      $         50,000
                                                                          
General and administrative costs and continuing                           
 operations costs                                         $        137,905
                                                                          
Total                                                     $        500,000



About CanAsia

CanAsia is an Alberta based company listed on the TSX Venture Exchange. It is
engaged in the business of developing unique new business opportunities in the
Pacific Rim countries. The Company is located in Calgary, Alberta, Canada. 


Advisory

This news release may contain certain forward-looking information and
statements, including without limitation, statements pertaining to the Company's
ability to obtain necessary approvals from the TSX Venture Exchange. Statements
containing the words: 'believes', 'intends', 'expects', 'plans', 'seeks' and
'anticipates' and any other words of similar meaning are forward-looking. All
statements included herein involve various risks and uncertainties because they
relate to future events and circumstances beyond the Company's control. There
can be no assurance that such information will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
information. A description of assumptions used to develop such forward-looking
information and a description of risk factors that may cause actual results to
differ materially from forward-looking information can be found in CanAsia's
disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking
statements are made as of the date of this press release and CanAsia does not
undertake to update any forward-looking information except in accordance with
applicable securities laws.


Neither the 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CanAsia Financial Inc.
James G. Louie
Chief Executive Officer
(403) 870-7383
louiejd@shaw.ca
CanAsia Financial Inc. (TSXV:CNA)
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