CBM Asia Development Corp. (TSXV:TCF) announced non-brokered private placement of 550 units at a price of CAD 20,000 per unit for gross proceeds of CAD 11,000,000 on April 7, 2014. Each unit consists of one note and 80,000 bonus shares. All bonus shares to be issued will be granted immediately on closing and subject to a hold period of four months and one day. The notes bear simple interest at the rate of 18% per annum, calculated annually not in advance, with interest only payments payable semi-annually and will have a term of two years from the closing date. The units will be sold directly by the company and through certain dealers, agents and other finders, registered and otherwise. Each note will be secured, on a pro rata undivided basis, by a pledge over the equivalent of 36 shares of 0865665 B.C. Ltd.

The company shall have the right to prepay the notes, in whole or in part, at any time without notice, bonus or penalty, provided that if the company prepays the notes prior to the first anniversary of the closing date, the company shall pay to the holders of notes an amount equal to one year's interest on the notes, less any interest previously paid. The company reserves the right to pay to the finders a commission or fee in cash and/or finder's warrants. The transaction is subject to the acceptance of the exchange.