CBM Asia Development Corp. (TSXV:TCF) announced a non-brokered private placement of 38,000,000 shares at CAD 0.10 per share for gross proceeds of CAD 3,800,000 on November 25, 2013.

On November 26, 2013, the company announced that investors have subscribed shares for gross proceeds of CAD 250,000 in its tranche.

On December 5, 2013, CBM Asia Development Corp. closed the transaction. The company has issued total of 2,553,200 common shares for gross proceeds of CAD 255,320. All securities issued in connection with the first closing are subject to a hold period of four months and one day expiring March 29, 2014.