CNA

CanAsia Financial Inc. ("CanAsia" or the "Company") (TSX VENTURE:CNA) announces
that pursuant to its Annual General and Special Meeting (the "Meeting") held on
August 8, 2012, the shareholders of the Company have elected James G. Louie and
Jacob Sung Kyung Kim to the Board of Directors. The Board of Directors now
consists of James G. Louie, Dr. Woo Young Kim, Jacob Sung Kyung Kim, Jacky Chak
Sun Cheng, and Yihong (Nancy) Huang. 


Jay Leung and Barry Pearson who were Directors previously, did not stand for
re-election. The Board of Directors wishes to thank Mr. Leung and Mr. Pearson
for their services to the Company and wishes them every success in their future
endeavors.


CanAsia also announces that following the Meeting, the Board of Directors
appointed the following officers: Jacky Cheng as President, Dr. Woo Young Kim as
Chief Executive Officer and Chief Technology Officer, Jacob Kim as Chief
Financial Officer and Corporate Secretary and James G. Louie as the Chairman of
the Board of Directors. 


In addition, the Company announces that the Board of Directors has approved the
granting of stock options to purchase 250,000 common shares to an officer of the
Company, subject to regulatory and TSX Venture Exchange approval. The options
were issued with an exercise price of $0.13 per share, vest as to one-third
(1/3) on each of December 31, 2012, December 31, 2013 and December 31, 2014 and
have a five year term. 


About CanAsia

CanAsia is an Alberta registered 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 in the manufacture of optical modules
(cameras) to leading mobile phone and computer makers in China. CanAsia has
offices in Canada, Hong Kong, Shenzhen China and the Philippines.
(www.canasiafinancial.com)


Advisory

This news release may contain certain forward-looking information and
statements. 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.

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