CanAsia Financial Inc. Announces Closing of Private Placement

CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) is pleased
to announce that the Company has closed the non-brokered private placement as
reported on February 4, 2011. The Company issued 2,764,000 Common Shares at a
price of $0.15 per share for gross proceeds of $414,600. The Common Shares have
a four-month hold period from the closing date of the Offering.


About CanAsia 

CanAsia is engaged in the designing, manufacturing and distributing optical
modules to mobile device makers in China. Currently there are two predominant
digital camera sensor technologies: Charge-coupled Devices (CCD) and
Complementary Metal-oxide-semiconductors (CMOS). Within CMOS sensor type, there
are three main types of construction: (a) Chip Support Package (CSP), (b) Chip
on Board (COB) and (c) Chip on Flex (COF). COF is the latest generation using
flexible substrate. CanAsia focuses its business in COB and COF, and it has an
in-house Class-100 Clean Room facility which is required for COB and COF
production. 


CanAsia has established relationships with key mobile phone manufacturers and
suppliers in China. CanAsia sells directly to its customers and has not
appointed distributors or agents anywhere.

CanAsia Financial Inc. (TSXV:CNA)
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