CanAsia Financial Inc Announces Proposed Private Placements


Friday, 30 Aug 2013 06:46pm EDT 

CanAsia Financial Inc announced that it plans to complete a non-brokered private placement of up to 20,000,000 common shares of CanAsia (the Common Shares) at a price of $0.025 per share for aggregate gross proceeds of up to $500,000 (the Share Offering). The Company also announces that it plans to complete a non-brokered private placement of up to 15,000,000 units of CanAsia (the Units) at a price of $0.05 per Unit for aggregate gross proceeds of up to $750,000 (the Unit Offering). The Units will be comprised of one non-voting series C preferred share of CanAsia (Preferred Share) and one-half (1/2) of one share purchase warrant of CanAsia (Warrant). Each Preferred Share will have a hold period of six months and entitles the holder thereof to one Common Share at no additional cost to the holder for a period of five years from the date of issuance. Each whole Warrant entitles the holder thereof to purchase one Common Share for $0.20 per share expiring five years from the date of issuance. The proceeds of the Share Offering will be used for outstanding payables. The proceeds of the Unit Offering will be used to explore new business opportunities. 

Company Quote

0.025
0.015 +150.00%
3 Oct 2013