CanAsia Announces C$17 Million Return of Capital to Shareholders

CALGARY, AB, Nov. 12, 2026 /CNW/ -- CanAsia Energy Corp. ("CanAsia") (TSXV: CEC) is pleased to announce that the board of directors of CanAsia has approved the distribution of an aggregate of C$17 million to shareholders of CanAsia on a pro rata basis as a return of capital (the "Distribution").

The per share amount of the Distribution will be based on the issued and outstanding shares of CanAsia on the record date for the Distribution, but based on the 122.5 million shares issued and outstanding on the date hereof, the Distribution is expected to be approximately $0.1388 per share.    

The Distribution will be paid on November 26, 2026 to shareholders of record at the close of business on November 19, 2026.

The Distribution to shareholders will be made in accordance with the "due bill" trading procedures mandated by the TSX Venture Exchange for large dividends and distributions. The purpose is to result in traded shares carrying the value of the Distribution until it is paid.

A due bill will notionally represent the pro rata portion of the C$17 million Distribution that a holder of a CanAsia common share is entitled to receive. A due bill will attach to each share traded, from the trading day before the record date for the Distribution until the date on which the Distribution is paid. During this due bill trading period, the shares will trade on a "due bills basis". A seller of shares (who is prospectively entitled to the Distribution) will also sell to the purchaser the entitlement to the Distribution (which is represented by the due bill attached to each share sold).

Key dates for the Distribution are:

• The record date to determine shareholders entitled to receive the Distribution will be November 19, 2026;
• Due bill trading is expected to commence on November 18, 2026 (one trading day before the record date, so that trades settling after the record date have due bills attached);
• The payment date for the Distribution will be November 26, 2026; and
• The ex-distribution date is expected to be November 27, 2026 (the trading day after the payment date, so that trades on and after that date will not have due bills attached).

The Distribution will be funded from the proceeds of the previously announced sale of Andora Energy Corporation and will be effected as return of capital by way of reduction of the stated capital account maintained by CanAsia for its common shares, as approved by the shareholders of CanAsia on October 15, 2026.

About CanAsia

CanAsia is a Canadian publicly listed junior oil and gas company focused on the identification, evaluation and advancement of oil and gas exploration and development opportunities, initially in Thailand. CanAsia does not currently have producing oil and gas properties or any established source of operating revenue. Its activities to date have consisted primarily of the evaluation and advancement of early‑stage oil and gas assets, assessment of strategic alternatives in respect of  those assets and participation in competitive bid processes for oil and gas interests.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "could", "will", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes, without limitation, references to the return of capital, including the amount thereof, the record date and payment dates. By its very nature, the forward-looking information contained in this press release requires CanAsia and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information contained in this press release is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of CanAsia, which could cause actual results, expectations, achievements or performance to differ materially. Although CanAsia believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. CanAsia undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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]