CNA

CanAsia Financial Inc. (the "Company" or "CanAsia") (TSX VENTURE:CNA) announces,
subject to any required regulatory approvals or requirements, that it has agreed
to provide Classet Holdings Inc. ("Classet Holdings") a loan of $100,000,
secured against all of the assets of Classet Holdings, carrying an interest rate
of 4% per annum for a term of twelve (12) months. The loan proceeds will be used
for working capital and for payment of professional fees that Classet Holdings
has incurred as a result of the previously announced qualifying transaction with
CanAsia (the "Qualifying Transaction").


The Corporation also announces that the agreement in principle with Classet
Holdings previously announced on May 20, 2009 has been amended to eliminate the
payment of the $450,000 redeemable debenture (the "Debenture") and to increase
the number of newly issued redeemable convertible preferred shares of CanAsia
payable to Classet Holdings from 23 million to 27.5 million. In addition, the
proceeds from the private placement, previously announced on August 7, 2009 (the
"Private Placement"), will be used to increase the Company's net tangible
assets. The Private Placement is subject to receipt of all necessary regulatory
approvals.


CanAsia is also pleased to announce that the trading halt that has been in place
since it announced the proposed Qualifying Transaction on May 20, 2009, will be
lifted at the opening of markets on August 13, 2009.


About CanAsia Financial Inc.

The Company is a CPC within the meaning of the policies of the Exchange. The
Company commenced operations when it completed its initial public offering;
however it currently has no assets other than cash. Since the date of listing of
the Company's shares on the Exchange, the Company has identified and evaluated
several businesses and assets with a view to completing a "Qualifying
Transaction" under the Exchange's CPC policies.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
Requirements, majority of the minority shareholder approval. Where applicable,
the transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.

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