Asia Broadband Directors’ Complete Additional $2 Million Dollar Investment Committing Further to Advance Expansion Projects

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) announced a $2 million purchase of non-convertible, preferred shares by the company's directors, with each share having 100 voting rights and equal participation with common shares for future dividends. The proceeds will be allocated to capital expansion projects, including a $800 million ore stockpile production agreement and a new processing plant facility in Mexico. The company's President and CEO, Chris Torres, purchased $1.4 million of the total preferred share issuance, demonstrating the management team's commitment to the company's growth and profitability. AABB is also focusing on optimizing capital utilization in its mining production and acquisition strategy in Mexico, as well as expanding its digital asset division, including the AABBG cryptocurrency token, AABB Wallet, PayAABB, and NFT collections.

Positive

• The purchase of preferred shares by the company's directors demonstrates their commitment to the company's growth and profitability.
• The allocation of proceeds to capital expansion projects, including ore stockpile production and a new processing plant facility, indicates a focus on long-term growth and development.
• The company's strategy to optimize capital utilization in its mining production and acquisition in Mexico shows a comparative advantage and expertise available for accelerated expansion and duplication of previous gold production success.
• The rapid development and expansion of the digital asset division, including the AABBG cryptocurrency token, AABB Wallet, PayAABB, and NFT collections, presents opportunities for diversification and growth.

Negative

• None.

LAS VEGAS, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has received a total of $2 million dollars from the four directors of the Company for a second purchase of preferred shares. A total of 20 million non-convertible, preferred shares were issued at the par value of $0.10 per share with each share having 100 voting rights and equal participation with common shares for all future dividends. The Company President and CEO, Chris Torres, purchased $1.4 million of the total preferred share issuance. The entire $2 million share sale proceeds will be allocated to the Company’s capital expansion projects, such as the Company’s $800 million dollar ore stockpile production agreement and new processing plant facility in Etzatlan, Mexico.

“Our entire management team is committed to the Company’s growth and profitability and we have emphatically demonstrated this with a substantial long-term investment to fuel the expansion of our gold production and digital asset divisions. Our focus and determination to succeed in every area of the Company’s business has intensified further with our management’s additional capital contribution", affirmed Chris Torres, AABB President and CEO.

AABB continues to implement its mining production and acquisition strategy to optimize capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise available for accelerated expansion and duplication of the Company’s previous gold production success. Additionally, the Company’s digital asset division that includes the AABBG cryptocurrency token, AABB Wallet, PayAABB and NFT collections are continuing to develop and expand rapidly.

About Asia Broadband

Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet, the unique Golden Baboons Mining Club non-fungible token collection, a proprietary digital exchange AABBExchange and a cryptocurrency payment gateway solution PayAABB.com. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.

Contact the Company at:

General Email:		ir@asiabroadbandinc.com
Exchange Support:		https://aabbexchange.com/faq/
Token Support:		https://aabbgoldtoken.com/faq/aabb-wallet/
		www.AABBGoldToken.com/support/
Company Websites:		www.asiabroadbandinc.com
		www.AABBExchange.com
		www.AABBGoldToken.com
		www.PayAABB.com
		www.goldenbaboons.com
Phone:		702-866-9054

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

FAQ

What is the ticker symbol of Asia Broadband Inc.?

The ticker symbol of Asia Broadband Inc. is OTC: AABB.

What are the preferred shares issued by Asia Broadband Inc.?

Asia Broadband Inc. issued 20 million non-convertible, preferred shares at the par value of $0.10 per share, with each share having 100 voting rights and equal participation with common shares for all future dividends.

What are the capital expansion projects allocated by Asia Broadband Inc. with the proceeds from the preferred share issuance?

The proceeds from the preferred share issuance will be allocated to the company's capital expansion projects, including a $800 million ore stockpile production agreement and a new processing plant facility in Mexico.

Who purchased the majority of the preferred shares issued by Asia Broadband Inc.?

The company's President and CEO, Chris Torres, purchased $1.4 million of the total preferred share issuance, demonstrating the management team's commitment to the company's growth and profitability.

What divisions are being developed and expanded by Asia Broadband Inc.?

Asia Broadband Inc. is continuing to develop and expand its digital asset division, including the AABBG cryptocurrency token, AABB Wallet, PayAABB, and NFT collections.