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| | July 21, 2008
Canasia Receives Comfort Letters for All of its Coal Permit Applications
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| | Canasia Industries Corporation ("Canasia") wishes to announce that it has received a comfort letter from the Saskatchewan Ministry of Energy and Resources covering 100% of the coal permit applications applied for (announced on June 9, 2008). This letter indicates that Canasia is "first in line" on all of its applications.
The "Comfort Letter" confirms that Canasia is "first in line" for all the permits applied for and will be given priority sequence. The final granting of the coal permits is dependent upon government regulatory approval and time required to process the applications, which is at the discretion of the Government of Saskatchewan. Granting of coal permits is subject to a final review of "each application indicating the nature of the work and money to be expended". The "Comfort Letter" is not a guarantee that all or any of the permits will be issued to Canasia, only that Canasia are first in line for the permits.
Graeme Sewell, a director of Canasia stated, "We are pleased to be notified by the government of Saskatchewan that our coal permit applications have been granted priority status."
If you would like to be added to Canasia's news distribution list, please send your email address to info@canasiaind.com.
Contact Information
Tel: 1877 225-6755
Fax: 604 689-1733
www.canasiaind.com
info@canasiaind.com
"Graeme Sewell"
Director
Canasia Industries Corporation
Disclaimer for Forward-Looking Information
Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) inability to obtain all necessary environmental and regulatory approvals, (9) an increase in the number of competitors with larger resources, (10) other factors beyond the Company's control; (11) the failure of the Letter of Intent or Letter Agreement to close for any reason; and (12) the ability of the Company to acquire the services of contract trades to perform work programs in a timely manner. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
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| | You can view the Next News Releases item: Tue Jul 29, 2008, Canasia to Acquire 100% Interest in Gold Property
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