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CALGARY, ALBERTA--(Marketwire - April 1, 2013) - 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. |
