Techni Modul Engineering S.A. signed a non-binding letter of intent to acquire CanAsia Financial Inc. (TSXV:CNA.H) from Sicheng Zhang, Director of CanAsia Financial and others in a reverse merger transaction on September 25, 2018. As of November 29, 2018, TechniModul signed a share exchange agreement to acquire CanAsia Financial Inc. (TSXV:CNA.H) from Sicheng Zhang, Director of CanAsia Financial and others in a reverse merger transaction. Pursuant to the terms, CanAsia will acquire all of the outstanding shares of TechniModul by issuing to the shareholders of TechniModul a total of 87.6 million common shares of CanAsia, after a five for one share consolidation, and 19.2 million non-voting series D preferred shares of CanAsia. Subject to certain conditions, each Preferred Share may be converted by the holder thereof into one common share at no additional cost to the holder for a period of five years from the date of issuance. CanAsia plans to complete a non-brokered private placement of convertible unsecured debentures. If the acquisition is completed CanAsia expects to be listed on the exchange as an industrial issuer. The resulting entity will be named Composite Alliance Group Inc. Yu-Chung (Jim) Hsieh will serve as Director, President and Chief Executive Officer of the resulting entity while Sicheng Zhang, JianYong (Bill) Cui, Ron Love and Serge Luquain will serve as Directors; Dale Burstall will serve as Director and Corporate Secretary and Debbie Chien will serve as Chief Financial Officer. The completion of the transaction is subject to several conditions including approval by the Directors of CanAsia and TechniModul, entering into a definitive agreement, satisfactory completion of due diligence, regulatory approval, entry into TSX Venture Exchange Inc. escrow agreement by certain shareholders of TechniModul, waiver letter being entered into, consolidation of shares of CanAsia, listing approval of the Exchange, name change having been duly authorized and approved, CanAsia's shareholder approval and that and that the acquisition closes on or before February 15, 2019. The meeting of the shareholders of CanAsia Financial will be held on January 24, 2019 for the approval of the deal. The Board of CanAsia Financial has concluded that the transaction is in the best interests of CanAsia and recommends that the shareholders to vote in favor of the transaction. The transaction is expected to be completed by February 15, 2019. The proceeds of the offering will be used to pay outstanding and ongoing expenses to maintain CanAsia's status as a reporting issuer listed on NEX and to complete the proposed acquisition. Computershare Trust Company Of Canada acted as the transfer agent, Collins Barrow Edmonton LLP acted as the accountant, Evans & Evans, Inc. acted as the financial advisor and Dale Burstall of Burstall LLP acted as the legal advisor for CanAsia Financial. KPMG International and Grant Thornton France acted as accountants and Labonne et Associés acted as legal advisor for Techni Modul Engineering S.A. Techni Modul Engineering S.A. completed the acquisition of CanAsia Financial Inc. (TSXV:CNA.H) from Sicheng Zhang, Director of CanAsia Financial and others in a reverse merger transaction on January 25, 2019.