Asia Broadband Reduces Total Outstanding Shares With 107 Million Share Retirement
Asia Broadband Inc. (OTC: AABB) has announced the retirement of 107 million restricted common shares, enhancing shareholder value. This process is initiated and expected to complete shortly. Furthermore, AABB will release an update on its cryptocurrency exchange, associated with their AABB Wallet, allowing users to exchange AABBG tokens for major cryptocurrencies like Bitcoin and Ethereum. This development aims to boost transaction fee revenues and potentially influence AABBG's market demand and price appreciation.
- Retirement of 107 million shares could enhance shareholder value.
- Upcoming proprietary cryptocurrency exchange may increase transaction fee revenues.
- None.
LAS VEGAS, May 27, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that AABB’s management and Board of Directors have approved the retirement and return of 107 million restricted common shares to the Company treasury. The share retirement process has been initiated with the Company’s transfer agent and is anticipated to be completed in the coming weeks. The Company initiative to create shareholder value led to the agreements with several third-party shareholders to retire the shares. AABB expects to retire additional shares to the Company treasury in the near future with the ongoing plans to continue the shareholder value initiative.
In other Company news, AABB will be releasing a progress update of the Company’s proprietary cryptocurrency exchange version of the AABB Wallet that has been under development with Core State Holdings, Corp. since the recent launch of the AABBG gold-backed token. After completion in the coming months, the exchange will allow AABB Wallet users to complete quick two-way exchanges of their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The proprietary exchange will also add tremendously to transaction fee revenues and allow for the price appreciation of AABBG, influenced by market demand and the limited supply of tokens released into circulation.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.
Contact the Company at:
Investor Brand Network
| General Email: | ir@asiabroadbandinc.com |
| Token Support: | www.AABBGoldToken.com/support/ |
| Company Website: | www.asiabroadbandinc.com |
| Token Website: | www.AABBGoldToken.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.
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FAQ
What recent announcement did Asia Broadband (AABB) make regarding share retirement?
When is Asia Broadband (AABB) expected to complete its share retirement process?
What new features are being added to the AABB Wallet?
How will the new cryptocurrency exchange affect AABB's revenues?
