August 09, 2011

Private Placement Closed

Canasia Industries Corporation ("Canasia" and the "Company") (TSX VENTURE: CAJ.V) wishes to announce in furtherance to its news release dated April 20, 2011 and April 26, 2011, it has completed a private placement of 9,000,000 units at $0.05 for gross proceeds of $450,000. The private placement consists of 3,000,000 flow-through units and 6,000,000 non flow-through units.

Each unit consists of one common share and one transferable share purchase warrant, exercisable at $0.10 per share for two years from closing.

In connection with the financing, the Company paid aggregate finder's fees of $7,600. All securities issued in connection with the closing of the offering are subject to a restricted period that expires on September 14, 2011 in accordance with applicable securities laws.

Negar Adam, President of the Company stated, "We anticipate being active on our flagship Clone property shortly. With gold touching all time highs today, we are excited to recommencing operations shortly."

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 2256755

info@canasiaind.com

"Negar Adam"

President, Director

Canasia Industries Corporation

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

News Releases item: Thu Aug 4, 2011, Canasia to Re-Commence Operations on Clone