CALGARY, AB, Oct. 15, 2026 /CNW/ -- CanAsia Energy Corp. ("CanAsia") (TSXV: CEC) is pleased to announce the voting results from the annual and special meeting (the "Meeting") of shareholders (the "Shareholders") of CanAsia held today. A total of 66,421,880 common shares ("Common Shares") of CanAsia were voted at the Meeting, representing 58.45% of the issued and outstanding Common Shares. All matters submitted to Shareholders for approval as set out in CanAsia's Notice of Meeting and Management Information Circular (the "Circular") dated September 1, 2026, were approved by the requisite majority of votes cast at the Meeting.
At the Meeting, Shareholders approved the previously announced sale of CanAsia's wholly-owned subsidiary Andora Energy Corporation (the "Sale Transaction"), with 99.9% of the Common Shares represented in person or by proxy at the Meeting voting in favour. The TSX Venture Exchange (the "TSXV") has also conditionally accepted the Sale Transaction, subject to the satisfaction of certain filing requirements. It is expected that the Sale Transaction will be completed on or about October 30, 2026.
In addition to the Sale Transaction, at the Meeting, shareholders approved (i) the re-election of each of Jeff Chisholm, Gerald Macey, Richard Alexander, Cameron Taylor and Chris Newton as directors of CanAsia, (ii) the re-appointment of KPMG LLP as auditors of CanAsia, (iii) CanAsia's equity incentive plan for the ensuing year, (iv) a return of capital of a portion of the net proceeds from the Sale Transaction, and (v) an amendment to the exercise price of the outstanding stock options of CanAsia following payment of the return of capital, all as more particularly described in the Circular. The amendment to the exercise price of the outstanding stock options remains subject to the approval of the TSXV.
For further information on the matters approved by Shareholders at the Meeting, please refer to the Circular, a copy of which is available on CanAsia's SEDAR+ profile at www.sedarplus.com.
About CanAsia
CanAsia is a Canadian publicly listed junior oil and gas company focused on the identification, evaluation and advancement of oil and gas exploration and development opportunities. CanAsia does not currently have producing oil and gas properties or any established source of operating revenue. Its activities to date have consisted primarily of the evaluation and advancement of early‑stage oil and gas assets, assessment of strategic alternatives in respect of those assets and participation in competitive bid processes for oil and gas interests. An updated corporate presentation dated October 15, 2026 is available on CanAsia's website at www.canasiacorp.com.
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "could", "will", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes, without limitation, references to the completion of the Sale Transaction, the return of capital to CanAsia shareholders and the amendment to the exercise price of the outstanding stock options of CanAsia. By its very nature, the forward-looking information contained in this press release requires CanAsia and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information contained in this press release is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of CanAsia, which could cause actual results, expectations, achievements or performance to differ materially. Although CanAsia believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. In particular, there can be no assurance that the remaining conditions precedent to the completion of the Sale Transaction will be satisfied or that CanAsia will proceed with the return of capital or the amendment to the exercise price of the outstanding stock options. CanAsia undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE CanAsia Energy Corp.