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| | July 29, 2008
Canasia to Acquire 100% Interest in Gold Property
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| | Canasia Industries Corporation ("Canasia") wishes to announce that it has entered into an Asset Purchase Agreement to acquire 100% interest in the Debut Gold Property, consisting of 16 claims near Elko, Nevada.
In December 2006, Canasia entered into an option agreement to earn a 50% interest in the property for consideration of spending $1,000,000 in exploration over ten years. The Asset Purchase Agreement requires Canasia to pay the vendor $35,000 and to issue 350,000 common shares of Canasia, subject to a 30 day due diligence period and regulatory approval. This agreement supersedes the previous agreement.
Graeme Sewell, a director of Canasia stated, "The Company is now in the process of acquiring 100% of the Debut Gold Property with a goal of entering into a joint venture for the exploration and/or development of the property."
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 |
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| | You can view the Next News Releases item: Thu Aug 28, 2008, Four Holes Now Complete on Clone Gold Prospect
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