CNA

CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) announces
it has entered into an arm's length transaction to sell 100% of its wholly owned
subsidiary, Pacific Optical Technologies Ltd. ("POT"), which operates in Hong
Kong, to Tenacious Treasure Limited ("Tenacious"), a private company, with
offices in Hong Kong for an aggregate purchase price of CDN$350,000 (the
"Transaction"). POT engaged in the manufacture of optical modules (cameras) to
leading mobile phone and computer makers in China. Tenacious will assume all
outstanding third party debts and liabilities of POT and Pacific Optical
Technologies (Shenzhen) Ltd., a directly and indirectly owned subsidiary of POT.


The net proceeds from the Transaction will be added to the working capital of
the Company for business development. The proposed Transaction is expected to
constitute a Reviewable Transaction of the Company as defined in Policy 5.3 of
the TSX Venture Exchange ("TSXV") Corporate Finance Manual and subject to the
written consent of 50.1% of the shareholders of the Company. 


There will be no finder's fees paid in connection the Transaction. The
completion of the Transaction is subject to the approval of the TSXV,
disinterested shareholders of the Company and all other necessary regulatory
approval. The Transaction will be an arm's length transaction as the directors,
officers and principal shareholders of the Company currently have no interest in
Tenacious.


About CanAsia 

CanAsia is Alberta based company listed on the TSXV. It is engaged in the
business of original design, manufacture and distribution of Hyundai brand
mobile phones for the Philippines and the development of unique new business
opportunities in the Pacific Rim countries. The Company is located in Calgary,
Alberta of Canada. (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. 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
CanAsia Financial Inc.
James G. Louie
Chief Executive Officer
(403) 870-7383
contactus@canasiafinancial.com

CanAsia Financial Inc. (TSXV:CNA)
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CanAsia Financial Inc. (TSXV:CNA)
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