CBM Asia Announces Failure of Financing Efforts and Resignations of Directors and Officers
This Press Release is Not for Distribution in the United States or to U.S. News Agencies
Vancouver, British Columbia (FSCwire) - CBM Asia Development Corp. (“CBM Asia” or the
“Company”) announces that, after more than three (3) years of seeking equity or debt financings to finance its continued
operations, a private European lending group has withdrawn its prior approval of a substantial secured loan to the Company.
Over the same period, Asian gas markets have softened considerably and only limited operations have been conducted on the
Company’s two (2) remaining properties in Indonesia.
The Company also announces the resignations of directors Charles Bloomquist, James Friberg and Clint Sharples, effective
today. Messrs. Bloomquist and Sharples have also resigned as officers of the Company.
ON BEHALF OF CBM ASIA DEVELOPMENT CORP.
"Charles W. Bloomquist"
President and CEO
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/CBM09022016.pdf
Source: CBM Asia Development Corp. (TSX Venture:TCF, OTC Bulletin Board:CBMDF)
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