Update: CBS News has confirmed John Kasich will suspend his campaign.

Despite a third place finish in Indiana's Republican Primary on Tuesday, Ohio Governor John Kasich is vowing to continue his campaign "as long as it remains possible."

In a memo, Kasich's senior strategist John Weaver asserted that Kasich will remain in the race, offering Republican voters "a clear choice for our country" unless Donald Trump garners 1,237 bound delegates before the Republican convention in Kasich's home state of Ohio. And pushing back on RNC Chairman Priebus' statement that frontrunner Donald Trump is the likely nominee, Weaver argued that "there is no presumptive nominee" until a candidate reaches that delegate threshold.

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In a coordinated effort with the Cruz campaign, Kasich ceded the state of Indiana to the Senator in hopes that he could blunt Trump's path to the nomination after a five-state sweep during last week's GOP primaries in the northeast, while he focused his resources on Oregon and New Mexico. But after a disappointing second place finish to the GOP frontrunner, Cruz suspended his campaign Tuesday evening.

Reacting to Cruz's exit, Kasich tweeted his support saying the Senator "should be proud of his strong and disciplined campaign" and added that Texans were "lucky" to have him represent them.

Taking advantage of a narrow opportunity to garner financial support after Cruz ended his White House bid, Kasich's campaign also blasted out a fundraising email to supporters, soliciting donations as the only candidate who can "stop Trump and unify the party."

Kasich continues to defend his staying in the race, touting his electability as the only Republican candidate equipped to beat Hillary Clinton in the fall, and hopes his message of "hope" and "inclusion" resonates with Republican voters. Kasich trails Trump in the delegate count by a massive margin, and has won only his home state of Ohio since entering the race.

Kasich is scheduled to attend private fundraising events this week and will host two press conferences in the Washington, DC area.