CANASIA ENERGY CORP. - ELECTION OF DIRECTORS AND STOCK OPTIONS GRANTED

CALGARY, AB, June 14, 2024 /CNW/ - CanAsia Energy Corp. ("CanAsia") (TSXV: CEC) announced today that Richard Alexander, Jeff Chisholm, Gerald Macey, and Cameron Taylor were re-elected as directors of CanAsia and Chris Newton was elected as a new director of CanAsia at the annual meeting of shareholders held on June 14, 2024.

CanAsia also announced today that it granted options to newly elected director Chris Newton to purchase an aggregate of 700,000 common shares under CanAsia's equity incentive plan. Each option has an exercise price of $0.13 (being the June 14, 2024 closing price of the shares on the TSX Venture Exchange), vests as to one-third on the grant date and one-third on each of the first and second anniversaries of the grant date and expires on June 14, 2029. Options to purchase 9,775,000 common shares are now outstanding, equal to 8.7% of CanAsia's 112,793,907 outstanding common shares, at a weighted average exercise price of $0.151.

CanAsia is a Calgary, Alberta based oil and gas company with operations in Western Canada.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT: CanAsia Energy Corp., Jeff Chisholm, President and CEO (located in Bangkok, Thailand), Email: [email protected]; - or - Marcel Nunes, Vice President Finance and CFO, Email: [email protected], Telephone: [phone]