Mr. Jeff Chisholm reports

CANASIA ENERGY CORP. - 2023 ANNUAL MEETING

Canasia Energy Corp.'s directors intend to amend bylaw No. 1 of the corporation to reduce the quorum requirement for a shareholder meeting from 25 per cent to 10 per cent. The amendment is expected to occur immediately before the annual meeting of shareholders scheduled to commence in Calgary at 9 a.m. tomorrow, Friday, Sept. 22, 2023. The amendment will have immediate effect. Shareholders will then be asked to confirm the amendment at the meeting. It is anticipated that such confirmation will be obtained.

The amendment is necessary to ensure that the meeting, and future meetings of shareholders, as required, may proceed. The deadline for submission of proxies for the meeting was 9 a.m. (Calgary time) on Wednesday, Sept. 20. At that time, proxies representing 11,629,355 (23.35 per cent) of Canasia's 49,793,907 issued and outstanding common shares had been submitted. The proxy submission deadline has been extended to 3 p.m. (Calgary time) today, Thursday, Sept. 21. It is unlikely that enough additional proxies to bring the total shares voted to 25 per cent or more will be submitted by the extended deadline.

An updated Canasia corporate presentation will be posted on the corporation's website after the shareholder meeting on Sept. 22, 2023.

About Canasia Energy Corp.

Canasia is a Calgary, Alta.-based oil and gas company with operations in Western Canada.

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